In a daring forecast, the co-founders of the well-known cryptocurrency analytics firm Glassnode, operating under the X account Negentropic, have predicted that Solana (SOL) could surpass Ethereum (ETH) by an impressive 500%. Jan Happel and Yann Allemann, the masterminds behind Glassnode, conveyed their positive outlook on Solana’s potential to outperform Ethereum. They drew inspiration from a recent interview featuring macroeconomist Henrik Zeberg and Global Macroinvestor CEO Raoul Pal.
Positive Projections for Solana
The optimistic perspective on Solana from Glassnode’s founders emerged during a discussion regarding the potential for a substantial rally in the SOL/ETH chart. In an interview exploring risk-adjusted returns, the co-founders were asked about their preferences for a $10,000 investment over 12 months. This came with a focus on Ethereum and Solana. Pal and Zeberg, after analyzing Solana’s recent performance trend, expressed confidence in its significant momentum. They further anticipate it to surpass Ethereum in the foreseeable future.
SOL/ETH Chart Predictions
Glassnode’s analytical insights further delve into the SOL/ETH ratio, presently at around 0.14. Happel and Allemann anticipate a substantial increase in this ratio, projecting it to reach approximately 0.76. This chart projection suggests a potential four to five-fold outperformance of Solana compared to Ethereum. This is as the cryptocurrency market advances through the ongoing bull season. Negentropic highlighted that SOL may outperform ETH by 4-5X as the cryptocurrency market peaks.
Expectations of a Bullish Rally
Despite a recent 4.7% decline, with Solana trading at $94.93, and Ethereum experiencing a 1.75% dip to $2,482.80 over the past week, Glassnode’s founders maintain optimism about both cryptocurrencies. Their projections indicate that Solana’s potential to outperform Ethereum is not an isolated occurrence, as they anticipate a significant bullish rally for both assets.
Current Trajectories
Despite the recent weekly decline, Solana has demonstrated a robust one-year trajectory of 340.43%, surging from $20. In comparison, Ethereum’s one-year trajectory, while still noteworthy at 59%, indicates growth from $1,515. The disparity in these trajectories underscores the confidence of Glassnode’s founders in Solana’s capability to outperform Ethereum in the coming months.
The bullish forecasts from Glassnode’s founders introduce a compelling angle to the ongoing rivalry between Solana and Ethereum. As the cryptocurrency market evolves, investors will closely monitor whether Solana can live up to the optimistic predictions and outpace Ethereum by the projected 500%. The interplay between these prominent cryptocurrencies promises an intriguing storyline as the bull season unfolds.