IMPORTANT POINTS:
- Solana’s market capitalization would be advancing faster than that of Ethereum, according to InvestAnswers.
- The crypto analyst stated that if Ethereum rises to $8,000, Solana would skyrocket by approximately 278%.
- If SOL manages to reach 20% of ETH capitalization, its price would gain more than 2,000% to $453.
According to InvestAnswers, a prominent cryptocurrency analyst, an expansion phase is approaching within the crypto market that will feature Solana.
Solana is expected to achieve 10% of Ethereum’s market capitalization and also gain market share thanks to its efficiency and speed.
InvestAnswers did some sort of math calculation and estimated that if ETH breaks above $8,000, Solana will rise above $230, implying a potential gain of 278%.
It is important to clarify that SOL’s DeFi ecosystem reached an all-time high in its total value locked (TVL) when it reached $655 million. This represents an increase of 211% since the beginning of the year.
On the other hand, decentralized exchange (DEX) and non-fungible token (NFT) markets prefer to use the Solana network, which has notable transaction speed. While SOL’s is tens of thousands per second (TPS), ETH’s is only about 15 TPS.
The most optimistic projection for Solana
The crypto analyst mentioned that there is a possibility of SOL reaching 20% of Ethereum’s market capitalization. This would catapult SOL’s capitalization to around $192 billion.
In that case, the price of the asset would jump more than 2,000% to around $453.
Cathie Wood praises Solana
The director of Ark Invest stated that she was amazed by the efficiency, speed and profitability of the SOL network.
“Solana is doing a really good job. If you look at Ethereum, it was faster and cheaper than Bitcoin at the time. Now, SOL is faster and more profitable than Ethereum,” she said in a conversation with CNBC.
