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A intently adopted crypto analyst says that one Ethereum (ETH) rival that has exploded about 600% yr to this point 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 fuel left within the tank regardless of already posting enormous beneficial properties this yr.
The analyst is Solana’s dominance, which tracks how a lot of the entire crypto market cap belongs to SOL. In response to the InvestAnswers host, he sees SOL’s dominance rising to three% within the subsequent market enlargement, indicating that SOL has extra room to develop.
“Concerning the Solana dominance to date 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 may hit a $5 trillion market cap – numerous that might be pushed by Bitcoin after all, however I do count on SOL dominance to hit no less than 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 complete crypto market cap and a 3% dominance score for Solana. In response to the host, Solana ought to attain the $363 price ticket.
“If CMC goes to $5 trillion, then which means the market cap of SOL goes to $150 billion and the present SOL market cap is $31 billion, and that may be a 4.84x [increase] from the place we’re at this time. [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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