Solana’s Recent Performance and Upcoming Potential
Glassnode co-founders, Jan Happel and Yann Allemann (Negentropic), predict a significant price increase for Solana (SOL). They point out that while SOL recently hit a new all-time high, it’s underperformed compared to XRP and Cardano. However, they believe Solana’s robust ecosystem makes it primed for a comeback, potentially retesting the $202-$208 range before a rally. Currently trading around $231, they see this as a possible entry point for investors.
Altcoin Season is Heating Up
Negentropic also suggests that altcoin season might be underway. Bitcoin’s dominance (BTC.D) – the percentage of the total crypto market cap held by Bitcoin – is decreasing, while Bitcoin’s overall market cap remains strong around $1.9 trillion. This combination, they argue, is ideal for altcoins to flourish, potentially pushing them to new highs. BTC.D is currently at 55.93%, down 7.54% in the last month.
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