Cryptocurrency market waves are unpredictable, but analysts are always keeping an eye on possible trends and movements. And it looks like Solana (SOL) is in the spotlight once again. According to recent analysis from InvestAnswers, Solana has the potential to reach new heights if Ethereum (ETH) maintains its growth.
InvestAnswers, a recognized platform in the crypto market, presented an interesting analysis on the future of SOL. The reasoning is based on the idea that Solana could reach up to 10% of Ethereum’s market value in the next bull cycle. This means that, if Ethereum were to be worth US$8,000, Solana could reach a price of US$231.
However, this is just the beginning of the conversation. InvestAnswers also believes that SOL capturing 20% of Ethereum’s market cap is not such a far-off idea. If this were to materialize, we would be talking about a market value of US$192 billion for Solana. In practice, this would translate into a price of US$461 per SOL.
That alone would be an impressive return on investment (ROI) of 2,038%. And this prediction isn’t even that bold, since in October 2021, Solana had already surpassed the 10% mark of Ethereum’s market value.
In its analysis, InvestAnswers used illustrative charts to highlight its point. They highlight that the yellow line represents 10% of Ethereum’s market value, and in the past, Solana’s price, illustrated in blue, had already surpassed this milestone.
Now is wait to see. With the growing adoption of cryptocurrencies and the continued development of blockchain technologies, the growth potential of both Ethereum and Solana is significant. The big question is: how far can Solana go if Ethereum continues its upward climb?
The crypto community is optimistic and, with analyzes like those from InvestAnswers, it becomes even more evident that Solana is a cryptocurrency to watch closely. At the time of publication, the price of SOL was quoted at US$21.80, down 1% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.