During the last week, Ethereum-killer Solana (SOL) has been main the altcoin market rally with 14% positive factors, whereas different prime ten cryptocurrencies have given flat returns. As of press time, Solana (SOL) is buying and selling 3.2% up at a worth of $$21.83 and a market cap of $8.7 billion.
Veteran investor Raoul Pal has just lately shared his robust bullish view on Solana’s (SOL) price surge going forward. Throughout his latest interview with InvestAnswers, Pal stated that Solana might just about comply with within the footsteps of Ethereum after ETH hit a low in 2018.
Again then, the ETH worth surged by a staggering 47 occasions. Pal says that even when Solana doesn’t replicate the Ethereum efficiency, it might no less than surge by 20 occasions. He added:
“There’s a possible, a chance [of] a dream situation that Solana does what ETH did from the 2018 low, which was a 47x. And so [the] Solana low was $9, so you might do the mathematics, the numbers are probably very fascinating – that it’ll be 20-something X from right here for Solana.”
He believes that this estimate is sensible contemplating Solana’s well-established protocol and the notable progress in community and ecosystem exercise.
If Pal’s optimistic prediction proves to be appropriate, the worth of Solana might probably exceed $400 sooner or later. This is able to symbolize a considerable improve from its earlier highest worth of $259.96 reached within the earlier bull market.
Solana Sees Sturdy Inflows
As stated, 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 worth trajectory whereas comfortably holding above the $20 help stage.
There’s no particular catalyst behind the present SOL worth rise, however a couple of issues to contemplate. A noteworthy instance is the partnership between Coca-Cola in Serbia and Solana NFT platform SolSea. They’ve 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 contributors.
It will likely be fascinating to see if SOL can proceed with its worth trajectory going forward.
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