- According to the founders of Glassnode, Solana has the potential to outperform Ethereum by 500 percent.
- Renowned analyst Ali Martinez has also predicted that Solana could hit $150.
Solana (SOL) remained one of the highest-performing cryptos last year and is still showing signs of upward movement. In the last three months, the asset has surged by 222% to trade at $94.73, adding $65 to its previous price. Also, Solana has surged by 22.9% in the last 30 days. However, the past couple of days have been difficult as the asset has fallen by 4% in the last 24 hours on top of its 3% weekly fall.
According to Jan Happel and Yann Allemann, the co-founders of Glassnode, Solana is not slowing down yet as it could outperform Ethereum this year. The Glassnode co-founders appeared in an interview with macroeconomist Henrik Zeberg and Global Macroinvestor CEO Raoul Pal, discussing the potential of Solana. During the interview, Raoul Pal and Henrik Zeberg were asked about their preference between Solana and Ethereum if they have a $10,000 investment to make over 12 months.
Pal and Zeberg examined the trend of Solana and observed that the asset shows serious momentum. On top of that, they lauded the ability of the asset to maintain an upward trend. To them, the fifth largest crypto by market cap could bring a substantial gain on their $10,000 investment within the Investment period compared to Ethereum.
Solana Predicted Price Growth
Following this response, Glassnode founders assessed the future movement of Solana and disclosed that the SOL/ETH ratio currently stands at 0.14. From here, they believe that the ratio could surge from this point to 0.76. Specifically, they predicted that Solana could outperform Ethereum by 500 percent.
We all watched @HenrikZeberg and @RaoulGMI talking on the @cryptomanran Banter Show about the SOL-ETH ratio. They both agreed it looks BULLISH. But – just how much could the ratio rally? This chart suggests, that the #SOLETH ratio could rise to ~0.76 from the current level of ~0.14. In other words, #SOL may outperform #ETH by 4-5X into the Crypto top. And Ethereum is going to rally by itself also. All onboard?”
Solana’s one-year return is currently around 340.43%, surging from $20 to the current level. Comparatively, Ethereum’s one-year run is around 59%, moving from $1,515.
As of press time, Ethereum was trading at $2,484.71, but down by 1.2% in the last 24 hours. Also, the asset has fallen by 7% in the last seven days, with a neutral sentiment score of 53/100. Analysts have predicted that Ethereum could go as high as $6,957.20 this year.
An analyst identified as Ali Martinez has observed a bull flag that can propel Solana to $150. According to him, this prediction could materialize if the asset is sustained above $106.
#Solana is breaking out from a bull flag that developed on the 4-hour chart. A sustained close above $106 can trigger a 47% rally that pushes $SOL toward the $150 – $165 price range.
Other analysts also expect the price to re-touch the $260 price level. This can be influenced by the upcoming Bitcoin halving event which has a history of sending almost all the assets to new all-time-highs.
