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.
