Can Sol reach 1,000 in this bull market?
Here is a comprehensive analysis.
It can be said that Solana has become the largest casino in the cryptocurrency world, with MemeCoin being a popular gambling game and SOL being an important bargaining chip.
The more people participate, the more the value of SOL seems to rise.
In terms of price-earnings ratio, SOL is currently as high as 132 times, ranking fifth in market value. Although it is unlikely to reach $1,000 in 2025 (unless the price of Bitcoin soars to $200,000), according to gas fee estimates, the price of SOL may increase to $1,500 in ten years. In terms of investment returns, from the beginning of the year to August 11, SOL's return rate was 1.42 times, exceeding ETH's 1.13 times.
In terms of market value relative valuation, if the current market price of SOL is compared with the market value of ETH, it will be found that SOL's relative valuation is about 4.4 times that of ETH.
At the same time, the US market is positive about the launch of the Solana ETF. In June this year, VanEck and 21Shares have submitted applications for spot Solana ETFs to the SEC. In July, the Chicago Board Options Exchange (CBOE) also proposed a 19b-4s form for the Solana ETF. These dynamics indicate that it may only be a matter of time before the US SOL ETF is approved.
Solana's development potential is also reflected in its narrative expansion. In addition to the Meme coin field, Solana also has development potential in popular fields such as AI and DePin. Most of the DePIN x AI projects under development choose the Solana network as the preferred platform. The number of DePIN projects on the network is about 78, exceeding Ethereum's 74.
The world's first Solana-based spot ETF has been approved in Brazil. The product will track the CME CF Solana US dollar reference rate, providing Solana with a reliable value indicator denominated in US dollars.
From all bases, it is necessary for Sol to pull up again in the big market.
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