- Crypto-analyst bets SOL could hit $1k and outshine ETH in this cycle
ETH proponent believes the altcoin could climb as high as $10k
On social media platform Crypto-Twitter, the discussion between Solana (SOL) and Ethereum (ETH) supporters has resurfaced once more. It’s a common topic of debate: which token will outshine the other during this market cycle? Predictably, each community is convinced that their preferred token will come out on top.
Over the past day, SOL has gained an advantage, increasing by 9.5% and surpassing $140 on cryptocurrency exchanges, as indicated by CoinMarketCap. In comparison, ETH only rose by 3%.
In Q4 2023, Solana surpassed Ethereum’s price performance, leading crypto analyst Ansem to become extremely optimistic about SOL. He even diminished Ethereum’s advantage over Solana in his assessment.
“Before the metrics changed last year, there wasn’t anything Ethereum did superiorly to Solana. This statement holds even truer today based on unbiased, factual information.”
$1,000 per $SOL”
The analyst pointed out Solana’s impressive advancements in decentralized trading volume, daily active users, and validator information as indicators for a possible 7-fold increase from its current prices.
Ethereum is still a big shot
Meanwhile, some members within Ethereum’s community are optimistic that the token will reach a price of $10,000. In fact, individuals such as Ryan Adams from Bankless believe this milestone was supposed to be achieved already.
Referencing ETH’s massive revenues, Adams recently claimed,
“Ethereum stands out among other chains. In fact, Ethereum has earned approximately $1 billion in profits over the last 18 months.”
Adams added,
“Ethereum is only 9 years old. ETH should be over $10k based on this alone.”
Instead of just mentioning “higher revenue, TVL (Total Value Locked), and overall market cap” as the advantages Solana has over Ethereum, you could rephrase it to:
For HODLers, the price chart’s development is key. A possible surge in ETH‘s value from $3.1k to $10k signifies a potential increase of three times. However, even with the most optimistic assumptions, ETH’s gain would be less than Solana’s potential 7x growth.
Put simply, SOL may experience greater growth if the bull market unexpectedly surges. On the other hand, ETH could match that growth if the US eventually permits Spot Ethereum ETFs to be traded.
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2024-04-20 00:07