Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
bitcoin
Bitcoin (BITCOIN)
$104,849 1.71%
ethereum
Ethereum (ETHEREUM)
$2,587 10.03%
binancecoin
BNB (BINANCECOIN)
$665.18 -0.26%
solana
Solana (SOLANA)
$178.59 2.84%
ripple
XRP (RIPPLE)
$2.47 5.04%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000017 12.69%
pepe
Pepe (PEPE)
$0.000014 9.17%
bonk
Bonk (BONK)
$0.000024 7.88%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Will Solana Claim 50% of Ethereum’s Market Cap Following a Strong Week, as Envisioned by a Market Expert?

Highlights:

  • A market analyst claims Solana could claim 50% of Ethereum’s market cap in this cycle.
  • The market expert’s claims stemmed from Solana’s incredible run in the past week.
  • The analyst highlighted Trump’s possible re-election and Solana’s potential ETF approval as driving factors.

Following Solana’s (SOL) impressive run last week, a renowned expert has asserted that the token could claim 50% of Ethereum’s (ETH) market cap. The analyst’s prediction stemmed from past market trends that resulted in an explosive run for Solana.

Advertisement

Banner

Solana’s Impressive Run in the Just Concluded Week

At the time of press, Solana is priced at about $152.12, courtesy of a 4.7% upswing from the previous day. In its 7-day-to-date statistics, SOL recorded a 13.4% upswing, with minimum and maximum prices ranging between $132.19 and $152.12, respectively.

Source: CoinMarketCap

The above price disparity in Solana’s 7-day data supports initial claims about the token’s impressive run in the concluded week. Meanwhile, relative to its 14-day-date and month-to-date variables with 3.2% and 5% increments, respectively. It becomes more glaring to say that the past week was incredible.

Solana’s current selling price implies that the decentralized crypto protocol is 41.5% below its all-time high (ATH). In addition, SOL’s market cap has a $70.55 billion valuation, while its 24-hour trading volume surged by 26.58% to $1.98 billion.

Expert Envisages Exciting Times Ahead, Citing Previous Trends

In a tweet making rounds among market participants, Daniel Cheung, a co-founder at Syncracy Capital, has predicted SOL’s bright outlook. The introductory part of his post on X read thus, “SOL closed the week bullish — things are starting to look exciting again.”

Per Cheung, a trend similar to 2021’s Q3 cycle with some shades of 2020’s Q4 has been replicated on Solana’s chart.“In both cases, the most explosive returns were just around the corner,” the market expert added.

Cheung Highlights Factors Driving Solana’s Anticipated Boom

Highlighting some of the reasons fuelling Solana’s anticipated and sustained rally, Cheung spotlighted on-chain activities on Solana’s network. He noted that Solana’s retail accessibility, which has made it an ideal asset, will positively impact SOL’s on-chain activities. In his exact wording, Cheung remarked, “Solana will continue to be the home of on-chain activity for the remainder of this cycle given its accessibility to retail, making it one of the best assets to own.”

In addition, the market expert highlighted potential positive influences of Solana’s Exchange Traded Fund (ETF) approval and Trump’s re-election possibilities. These two factors, especially Trump’s possible reinstatement as the United States President, appear more crucial in catalyzing market rallies.

Finally, Cheung noted that weaker hands have sold off their SOL holdings, courtesy of a group he tagged “flip-flopping KOLs.” For context, flip-flopping KOLs implies Key Opinion Leaders (KOLs) with little or no experience in predicting market actions. He added that only a few market participants with faith in Solana’s expansion prospect have persevered till the end. “I am still a believer that SOL can likely get to 50% of ETH’s market cap this cycle,” Cheung remarked to conclude his assertions.

Implications of Claiming 50% of Ethereum’s Market Cap

At the time of writing, Ethereum is changing hands at roughly $3,350, reflecting a 5.1% upswing in the past 24 hours. Remarkably, ETH’s market cap is valued at about 403.04 billion, while it boasts a $11.98 billion 24-hour trading volume.

Source: CoinMarketCap

Capturing 50% of Ethereum’s market cap implies that Solana’s market capitalization will be worth approximately $201.52 billion. Consequently, based on SOL’s 464.07 million circulating supply, each token will be worth about $431.5. Relative to Solana’s $260 ATH, Cheung’s analysis could be deemed a realistic target. Notedly, attaining $431.5 from SOL’s current $260 peak price will only imply a 65.96% surge.

Read More

BC.Game

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner