A widely followed crypto analyst believes that a key metric indicates Ethereum (ETH) competitor Solana (SOL) could keep soaring to three figures.
In a new strategy session, the host of InvestAnswers tells his 452,000 YouTube subscribers that Solana could surge another 388% from its current value.
The trader says Solana’s dominance (SOL.D), a measure of the market cap of Solana as a share of the entire crypto market, just hit a historically significant level. Increasing dominance can indicate a growing interest in a crypto project.
“This is about dominance. This is about Solana dominance, and it just hit 2% literally moments ago. And I was waiting for that moment….
That is a historic moment for Solana…
If we repeat what we did last time and if Solana dominance is the same, or it’ll probably be a lot higher given the actual recent trends, that means these [prior] price targets are not unreasonable.”
The trader says Solana’s dominance (SOL.D), a measure of the market cap of Solana as a share of the entire crypto market, just hit a historically significant level. Increasing dominance can indicate a growing interest in a crypto project.
“This is about dominance. This is about Solana dominance, and it just hit 2% literally moments ago. And I was waiting for that moment….
That is a historic moment for Solana…
If we repeat what we did last time and if Solana dominance is the same, or it’ll probably be a lot higher given the actual recent trends, that means these [prior] price targets are not unreasonable.”
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