SOL Overtakes ETH As Analyst Forecasts Solana Price To Hit $1,400
SOL has overtaken ETH in weekly and daily DEX volume as crypto analyst Titan of Crypto predicts that the Solana price can reach $1,400.
Solana has overtaken Ethereum in weekly and daily DEX volume, a development that has further strengthened predictions that SOL could flip ETH or challenge its dominance in this cycle. Interestingly, crypto analyst Titan of Crypto has predicted that the Solana price can rise to as high as $1,400 in this bull run.
Solana Overtakes Ethereum In DEX Volume
Artemis data shows that the Solana network has overtaken Ethereum in weekly and daily decentralized exchange (DEX) volume to rank number one above all chains. Solana has witnessed a trading volume of $8.6 billion in the last seven days and $1.3 billion in the last 24 hours. At the same time, Ethereum has come in second place with a weekly trading volume of $8.2 billion and a daily trading volume of $772 million.
This metric tracks the trading volume witnessed on all DEXs on these networks. Therefore, this development is significant as it indicates that Solana is generating more user interest than Ethereum. Such fundamentals are also bullish for the Solana price since this sustained trend could help trigger rallies for the crypto.
This development has also fuelled further conversations that Solana could flip Ethereum or challenge its dominance in this market cycle.
Ethereum is known to boast the top DeFi protocols, a narrative that boosted the ETH price during the 2021 bull run. However, with that narrative looking to change, SOL could easily be the runner in this cycle and threaten ETHâs position as the second-largest crypto by market cap.
Analyst Forecasts SOL To Hit $1,400
Crypto analyst Titan of Crypto has predicted that the Solana price can reach $1,400. The analyst explained that a âmassive Bull Flagâ might be unfolding for SOL in the coming weeks and months, which indicates that the crypto could reach this price level.
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