Solana Price Could Reach $1,000, Analyst Explains Why
Crypto analyst Jacob Canfield has laid out a comprehensive analysis, suggesting Solana (SOL) could be on the brink of an unprecedented market surge. “In my opinion, I think that Solana is going to continue to be one of the biggest movers during this current bull market cycle,” Canfield states, proposing that Solana could potentially escalate its market dominance to the 12-15% range. Can Solana Hit $1,000? Canfield bases his analysis on several indicators. He highlights the Solana Dominance (SOL.D) chart, noting that at the peak market cap, it didn’t even crack 3%. Given....
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Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.”
Bank of America on Crypto, Ethereum, and Solana
Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum.
The Bank of America analyst described that Solana “produces a....
Crypto analyst Egrag Crypto has been one of the most prominent and vocal about their bullish stance on the XRP price. This has not changed even with the market fluctuations as the analyst has, once again, doubled down on his ultra bullish predictions for XRP. XRP Price To Reach $27 Egrag Crypto shared his $27 […]
Solana has gained the favor of institutional investors recently which has seen a marked increase in the amount of inflows that the altcoin has recorded. This trend has continued with last week’s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum. Solana Inflows Reach $15.5 Million According to data from the latest CoinShares report, the inflows into Solana for the last week came out to $15.5 million. This came while some altcoins such as Ethereum saw outflows for the week. For context, Ethereum outflows reached $7.4 million in the same time....
Two Ethereum killers are on the brink of price rallies; they include Avalanche (AVAX) and Solana (SOL). Pentoshi’s Stand On Solana And Avax Pentoshi, a pseudonymous crypto pundit and analyst, took to Twitter to say that he presumes Solana (SOL) is about to change momentum towards a bullish one. Related Reading | Negative Sentiment Deepens In Crypto, Why Recovery May Not Last The Solana crypto project traded at a crucial support level following the massive sell momentum last week. Currently, the SOL token is trading at $47.89, a 4% growth from the 24-hour circle. Also, last week,....
David Hoffman, a crypto analyst and Ethereum influencer, has picked out a concerning disconnect in Solana relating to the number of SOL issued and the fees the network captures. Taking to X, the social media platform, Hoffman said Solana distributes roughly $1.8 million worth of SOL daily while only capturing a fraction in fees at approximately $40,000. […]