Crypto Influencer Compares Solana’s Price Action to Cardano’s in 2019 and Predicts a Major Turnaround
Benjamin Cowen, a well-liked cryptocurrency influencer with a following of over 780,000 individuals on the Google-owned video-sharing platform YouTube, has lately shared insights ihis perception into the trajectory of Solana ($SOL), saying it may make a big turnaround in a means just like what Cardano ($ADA) did through the earlier bear market.
Drawing on previous information, Cowen highlighted a sample that Solana has hit a low, then a excessive, earlier than revisiting that top once more. The influencer sees similarities with Cardano’sprice conduct in 2019 and questioned whether or not Solana’s worth may drop to $16.5, and even to an $11 low, earlier than making a restoration.
He recalled that Cardano, after reaching its excessive, dropped considerably after which soared, suggesting that Solana and different altcoins may observe an identical path ahead. Solana is on the time of writing buying and selling at $24.8 after transferring up 6.5% during the last 24-hour interval.
As CryptoGlobe reported, CCData’s newest Digital Asset Management Review report has revealed that cryptocurrency funding merchandise specializing in three main altcoins – Stellar ($XLM), $XRP, and Solana ($SOL ) – all noticed main inflows final month.
XRP merchandise noticed a 33.2% improve, taking their property beneath administration (AUM) to $65.7 million, whereas SOL-based merchandise climbed 55.7% to succeed in $87.8 million in AUM.
Solana additionally got here in a distinguished place in CCData’s ESG Benchmark report because it got here in tied with Cardano ($ADA), each being behind the second-largest cryptocurrency by market capitalization Ethereum ($ETH).
The report notes Environmental, Social, and Governance (ESG) mandates are “more and more prevalent amongst institutional traders and funds,” with world ESG-related property beneath administration forecasted to succeed in $33.9 trillion by 2026.
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