$461 Solana (SOL) Price Target on the Table if Ethereum (ETH) Does This Next Bull Cycle: InvestAnswers

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A intently adopted crypto analyst says that merchants could also be underestimating Solana’s (SOL) potential within the subsequent bull market.

In a brand new technique session, the host of InvestAnswers says that his base-case thesis for SOL is that it ought to attain 10% of Ethereum’s (ETH) market cap in the course of the subsequent market enlargement.

Beneath the presumption that Ethereum tops out at $8,000 within the subsequent bull market, the analyst theorizes that if Solana had been to succeed in 10% of ETH’s market cap, which it already hit previously, it could indicate a $231 worth goal for SOL.

Nonetheless, InvestAnswers says that SOL reaching 20% of ETH’s market cap isn’t utterly out of the realm of chance.

“If – which has all the time been a part of my thesis – if Solana goes to twenty% of the ETH market cap, that might take us to a $192 billion [market cap], and, given right now’s costs and the variety of tokens, that might take the worth to $461, and that might be an ROI (return on funding) of two,038%, and that might solely be 5%, roughly of the crypto market cap. So, it’s not past the realm of prospects in any respect.

However what’s much more unusual is we received above the ten% threshold already previously.

That is the SOL upside chart… You’ll be able to see right here the yellow line is the ten% of ETH market cap, and the Solana worth in blue breached that again in October 2021.”

At time of writing, SOL is buying and selling for $21.99.

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