Andrew Kang, co-founder of the venture capital firm Mechanism, published an article analyzing the future trends of BTC and ETH. In addition, although he was optimistic about SOL and meme currency projects such as Trump, Dog, and Frog at the beginning of the year, he predicted that if the meme currency craze fades, The price of SOL will also be greatly affected.

Ethereum ETF delays fourth quarter

Andrew Kang believes that the Ethereum spot ETF will be postponed to the fourth quarter of this year. He claimed that many ETF experts have begun to prefer the fourth quarter, but Bloomberg ETF analyst Eric Balchunas only revealed the possibility of listing in July in mid-June.

(Bloomberg Analyst: Ethereum spot ETF may be listed in early July)

Still bullish on Bitcoin

Market momentum has turned from bullish to bearish due to a lack of inflows into ETFs, but Andrew Kang believes that Bitcoin will maintain its strong trend and will not fall below $50,000.

He said:

While the weekly chart suggests what may be a double top for some, I think the market structure has changed significantly from previous bull cycles. More DCA (Periodic Calculation) creates higher lows and balances, and there are fewer high-leverage players (such as 3AC, Alameda, Celsius, etc.).

Ethereum’s upside is limited

Compared to Bitcoin, Andrew Kang is not that optimistic about ETH.

He pointed out that ETH may rise to the ETF line, but the upside will be below $4,000, and if capital inflows are not as expected and a large number of ETHE (Grayscale ETF) is sold off, it may fall to the $2,000 level.

In addition, the encryption field is relatively familiar with ETH, and expectations for Ethereum ETFs may be higher than those of traditional financial retail investors. He mentioned that Bloomberg ETF analyst Eric Balchunas also pointed out that the outside world has low interest in Ethereum ETFs. .

(Elderly people don’t understand “Ethereum”, does the ETH ETF lack traditional market selling points?)

SOL could drop to $80

Although he was optimistic about SOL and meme currency projects such as Trump, dogs, and frogs as early as the beginning of the year, Andrew Kang mentioned the potential impact of the cooling of meme coins at the end of the article.

Solana has performed well in this cycle, but judging from the reflexive nature of meme currency transaction demand, the demand for meme coins also affects the rise and fall of SOL. If memecoin trading slows down in the coming months, you may be able to buy SOL again for around $80.

This Article Is Meme Coin Cooling Hitting Solana? Andrew Kang predicts that SOL may fall to $80 first appeared in Chain News ABMedia.