Over the final week, Ethereum-killer Solana (SOL) has been main the altcoin market rally with 14% positive aspects, whereas different high ten cryptocurrencies have given flat returns. As of press time, Solana (SOL) is buying and selling 3.2% up at a value of $$21.83 and a market cap of $8.7 billion.
Veteran investor Raoul Pal has just lately shared his sturdy bullish view on Solana’s (SOL) price surge going forward. During his current interview with InvestAnswers, Pal mentioned that Solana might just about observe within the footsteps of Ethereum after ETH hit a low in 2018.
Back then, the ETH value surged by a staggering 47 instances. Pal says that even when Solana doesn’t replicate the Ethereum efficiency, it might no less than surge by 20 instances. He added:
“There’s a potential, a possibility [of] a dream scenario that Solana does what ETH did from the 2018 low, which was a 47x. And so [the] Solana low was $9, so you could do the math, the numbers are potentially very interesting – that it’ll be 20-something X from here for Solana.”
He believes that this estimate is smart contemplating Solana’s well-established protocol and the notable progress in community and ecosystem exercise.
If Pal’s optimistic prediction proves to be right, the value of Solana might probably exceed $400 sooner or later. This would symbolize a considerable improve from its earlier highest worth of $259.96 reached within the earlier bull market.
Solana Sees Strong Inflows
As mentioned, Solana (SOL) has been on a powerful footing during the last week taking a contrarian view to the broader crypto market. The present shopping for stress in Solana is influencing the SOL value trajectory whereas comfortably holding above the $20 help degree.
There’s no particular catalyst behind the present SOL value rise, however just a few issues to think about. A noteworthy instance is the partnership between Coca-Cola in Serbia and Solana NFT platform SolSea. They have joined forces to supply non-fungible tokens (NFTs) throughout a music occasion. As a part of this collaboration, Coca-Cola will present 100 unique hoodies together with accompanying NFTs to chosen individuals.
It might be fascinating to see if SOL can proceed with its value trajectory going forward.
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