InvestAnswers is a YouTube channel (444,000 subscribers) that talks about finance, and especially crypto. Recently, a video about the Solana (SOL) cryptocurrency was posted on the channel. In the video, the channel manager explained what Solana’s rapid adoption could lead to. Check out what he said about the future price of SOL.
Solana (SOL) could hit $259.65
The crypto analyst responsible for the InvestAnswers chain recently predicted, in a video, an 825% rally for Solana (SOL). He said Ethereum’s main competitor could regain its historic peak of $259.65. According to the analyst, the Solana smart contract platform is experiencing rapid adoption, and this could send the SOL token back to its all-time high.
“I think given that Solana trades at less than 1/16th the market cap of Ethereum, but is also widely adopted and transacts a lot, it’s a glaring value, and I really believe that it will at least go up to 20% of ETH market cap in the very near future“said the head of InvestAnswers.
However, for the crypto analyst, there is a number of conditions to be met for Solana (SOL) to return to its all-time high of over $260. Indeed, the crypto team would have to ensure that the platform comes out of beta. It is also necessary that there are no more outages and that all the problems of the Solana network are resolved.
Soon the end of the bear market?
InvestAnswers’ crypto analyst has indicated that the crypto market will rebound. According to him, bitcoin (BTC) will be the first crypto to rebound. Then it will be the turn of ether (ETH). Once these two cryptos follow an uptrend, “money will be transferred from runners to those who have not yet run“.
The crypto analyst pointed out: “It will be Solana, which could go very high and which would have a return of 825%. So basically you only make 3x more money investing in Solana than with Ethereum, but it’s more risky. This is where we are“.
According to InvestAnswers, if Solana’s team works to fix all network issues, adoption will continue. The Solana (SOL) crypto will then be able to more easily regain its historic high of $259.65. In the meantime, know that the SOL is currently trading around $30.
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