Ethereum Rival That’s Up About 7x Year-to-Date Primed To Explode Over 400% During Bull Run: Crypto Analyst

A intently adopted crypto analyst says that one Ethereum (ETH) rival that has exploded about 600% yr thus far is gearing as much as spark one other transfer to the upside.

In a brand new video replace, the host of InvestAnswers tells his 458,000 YouTube subscribers that good contract platform Solana (SOL) has much more gasoline left within the tank regardless of already posting big features this yr.

The analyst is taking a look at Solana’s dominance, which tracks how a lot of the full crypto market cap belongs to SOL. In line with the InvestAnswers host, he sees SOL’s dominance rising to three% within the subsequent market enlargement, indicating that SOL has extra room to develop.

“Relating to the Solana dominance up to now this yr, [what] blew me away is we’re at practically 2.2%. The all-time excessive for Solana on dominance was like 2.5% or one thing, so once more we’re so early but the dominance of Solana goes by way of the roof.

The query is: what occurs if the [crypto] market cap goes to $5 trillion?

…Inside 18 months or 24 months, or possibly even a yr, we might hit a $5 trillion market cap – a whole lot of that might be pushed by Bitcoin after all, however I do count on SOL dominance to hit at the least 3%. So the query is, if [the] CMC (crypto market cap) goes to $5 trillion [and] SOL dominance goes to three%, what’s the worth of SOL?”

The strategist goes on to calculate SOL’s potential worth, factoring within the variables of a $5 trillion whole crypto market cap and a 3% dominance score for Solana. In line with the host, Solana ought to attain the $363 price ticket.

“If CMC goes to $5 trillion, then meaning the market cap of SOL goes to $150 billion and the present SOL market cap is $31 billion, and that could be a 4.84x [increase] from the place we’re at the moment. [That figure] occasions $75 that might take [Solana’s] worth to a ridiculous $363.”

Solana is buying and selling for $69.31 at time of writing. A rise to $363 would signify a 423% appreciation.

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