Solana’s Potential Upside in the Next Crypto Boom

A popular crypto analyst has shared his predictions for Solana (SOL), a rival to Ethereum (ETH).

Market Cap Comparison

In December, Solana’s market cap reached 20% of Ethereum’s. However, it has since underperformed ETH. The analyst suggests that if Solana regains that 20% level, its price could reach around $171.

Further Upside Targets

The analyst also predicts higher targets for SOL:

  • 33% of ETH’s market cap: $277
  • 50% of ETH’s market cap: $421
  • 70% of ETH’s market cap: $585

Lag Effect

The analyst notes that Solana’s price tends to lag behind Ethereum’s. However, he believes that as ETH’s value increases, SOL will eventually follow suit.

Current Price and Outlook

As of writing, SOL is trading at $108.62. It has not experienced the same gains as the rest of the crypto market in 2024. However, the analyst remains optimistic about its future prospects.