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%.
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.