FacebookTwitterLinkedInTelegramCopy LinkEmail

Solana’s Soaring Potential: Will It Outshine Ethereum?

Solana’s Soaring Potential: Will It Outshine Ethereum?

A prominent crypto analyst has suggested that Solana (SOL) might be underestimated by traders regarding its potential in the next bull market.

In a recent strategy discussion, the InvestAnswers host put forth the idea that SOL could reach 10% of Ethereum’s (ETH) market cap during the next market expansion, assuming that Ethereum’s peak in the next bull market is $8,000.

The analyst theorizes that if Solana were to achieve this 10% target, a $231 price for SOL could be expected. However, there’s also the possibility, according to InvestAnswers, that SOL could reach as much as 20% of ETH’s market cap, which wouldn’t be entirely out of the question.

In this alternative scenario, if Solana were to represent 20% of Ethereum’s market cap, it could lead to a $192 billion market cap and a corresponding price of $461, with an impressive return on investment of 2,038%.

READ MORE: Apple App Store Drops MetaMask: What Happened?

This would still account for only about 5% of the total cryptocurrency market cap, making it a plausible outcome.

What’s particularly intriguing is that Solana has already crossed the 10% threshold in the past, as indicated by the SOL upside chart.

The chart shows that the yellow line represents 10% of Ethereum’s market cap, and Solana’s price (in blue) exceeded this threshold back in October 2021.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Learn more about crypto and blockchain technology.