Solana is currently trading at its highest price since April 2022 after rising 14% and surpassing $86. Its market capitalization is $36 billion, after XRP became the fifth-largest cryptocurrency yesterday.
Meanwhile, bitcoin Minetrix pre-sale is skyrocketing after surpassing $5.6 million and being backed 100x by a top analyst.
One analyst predicts Solana could hit $100 soon, but others warn of a pullback first
Given Solana's recent meteoric trajectory, analysts are quick to offer predictions on where its price could be headed next.
Overall, the market is remarkably bullish on Solana, with one popular prediction coming from analysts. Johnnywho believes that Solana will reach $110 in January and that other tokens in the ecosystem will explode further.
“Solana reaches $110 before the end of January.
All the major coins in the Solana ecosystem that have risen 5x in the last 3 months will rise another 5x, leaving people sidelined and incredulous,” said Johnny.
corgil He also believes Solana could soon surpass $100. As long as bitcoin is at $42,000, we could see SOL hit $120 in December, according to the trader.
Meanwhile, others note Solana's relative strength compared to other major cryptocurrencies like bitcoin and ethereum.
Analyst blunt He highlighted that Solana just broke out of a 4-hour trading range against bitcoin, indicating that it could begin to significantly outperform the market leader in the coming days.
crypto commentator MartyParty analyzed Solana's performance against ethereum, urging his followers to buy Solana for less than $100.
MartyParty then provided data showing that Solana surpasses ethereum in terms of daily active addresses and daily transactions. The data also indicates that Solana is approaching ethereum's TVL and DEX volume.
However, other analysts believe there may be a possible consolidation or pullback after Solana's prolonged rise.
One is Curbcomparing Solana's price action to that of bitcoin in 2015 and ethereum in 2019.
“MEME coin season and Altcoins/NFTs run as we consolidate/reaccumulate between ~$55-$95 $SOL for a couple more months (blue box).
STACK as much #SOL as possible for 2024-2025 MEGA SOL-BULL,” Curb said.
So while Solana certainly has long-term potential, it may first be primed for a cooling-off period, allowing newer cryptocurrencies to explode as liquidity dwindles in the market.
According to analysts, one of the cryptocurrencies with the greatest potential is bitcoin Minetrix, a new pre-sale that recently exceeded $5.5 million.
bitcoin's innovative Minetrix for mining exceeds $5.5 million in pre-sale
bitcoin-minetrix-also-rises” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>bitcoin Minetrix is a revolutionary new platform that allows users to mine bitcoin in the cloud from the ethereum network.
It is currently in pre-sale, allowing investors to enter at the lowest price before it is listed on the exchanges.
The project works by users staking $BTCMTX tokens in exchange for bitcoin mining credits. They can then burn these credits to gain cloud mining power, which translates to free bitcoin.
This process requires no technical expertise or hardware; Users can get started with just one ethereum-compatible wallet like MetaMask. As such, bitcoin Minetrix removes the major complexities of bitcoin mining, making it more beginner-friendly and increasing the chances of widespread adoption.
Another benefit of the project is that the decentralized and transparent $BTCMTX token eradicates the risk of cloud mining scams. This is a significant advantage over other bitcoin Minetrix competitors, as scams and security issues have long been an impediment to cloud mining.
Analysts are enormously optimistic about the project, with Jacob Bury predicting that it could grow 10x after its IEO. Meanwhile, No Bs cryptocurrencies is even more bullish and predicts that it could multiply by 100.
However, those who want to buy $BTCMTX at the best price should act fast. The pre-sale currently costs $0.123, but this will gradually increase with the next increase in a day.
bitcoin-minetrix-also-rises” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>Visit the bitcoin Minetrix pre-sale
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