It has been reported that the price of Solana could rise by more than 870%. Check out the latest reports about this below.
SOL price could rise by more than 870%
There is a well-regarded crypto analyst who predicts that Solana (SOL) will approach its highest-ever value once Ethereum (ETH) begins its bullish trend.
In a recent strategy session, the host of InvestAnswers shared with his 446,000 YouTube subscribers that Solana could potentially reach $250, representing an increase of over 870% from its current price of $25.75.
The analyst, who remains anonymous, suggests that Solana’s surge will likely be triggered by Ethereum’s Cancun upgrade, which is expected to further enhance the smart contract platform’s scalability.
The InvestAnswers host also addressed Blofin’s projection that Ethereum could reach $9,700 after the update.
ETH could surge past $9,700
According to predictions by Per Blofin, Ethereum’s price could exceed $9,700 per ETH in the first quarter of 2024 after the Cancun upgrade.
This is their most optimistic scenario. People often wonder what the price of Solana would be if Ethereum hits $9,700. He also said that he has calculated it for you and it would be at least $250. Keep in mind that $9,700 is over a 5x increase from its current price. Additionally, Solana’s price is likely to rise faster than Ethereum’s during that time.
While the InvestAnswers host believes that Ethereum could rally to $9,700, he doesn’t see the surge happening in the coming months.
He explained that it’s exciting to witness ETH reach $9,700. It’s possible that we may see it continue to rise during the bull run. However, the analyst believes that it’s unlikely to reach that level in the first quarter of 2024.
It may take until early 2025. When it comes to Bitcoin (BTC), an anonymous analyst is confident that the flagship crypto asset will increase by more than 40% from its current levels by early next year. The analyst had previously predicted that BTC would reach a target of $42,000 sometime between January and April 2024.
