Solana (SOL) is almost ready to hit an all-time high, according to a venture capitalist who accurately predicted a cryptocurrency market bottom in 2022.
Chris Burniske, former head of cryptocurrency at Cathie Wood’s ARK Invest, told his 286,200 followers on social media platform
“SOL seems to me to be hungry for ATH (all-time high). The monthly close is already very close and at the circulating market cap. SOL is already there.”
As of this writing, SOL is worth $190.41, which is about 27% off its all-time high of $259.96 in November 2021.
Burniske also says Solana looks forward to: surpass BNB (BNB) is quickly becoming the third-largest cryptocurrency asset outside of stablecoins.
“BNB will soon lose its top 3 ‘unstablecoin’ slot forever.
This cycle it will always be BTC, ETH (and) SOL.”
Solana’s market cap is currently at $84.53 billion, while BNB’s is at $88.49 billion.
Investors are optimistic about the cryptocurrency market, but Called Traders and investors must keep their expectations within a reasonable range.
“For MossThe biggest multiples are behind us, in part through this expansion, but the most exciting product developments and frenzied social bubbles are ahead of us. Keep your feet on the ground…
$200,000 in BTC = 2.86X at 70,000. BTC 2022 low = $15,500 so it is already at 4.52X. I’m optimistic, but with reason. ENT?
Or go for the SOL, currently priced at $192. This is a 24x increase from the 2022 low of ~$8. If you expect SOL to hit $1,000 (a bullish call), you are asking for 5.2X here (the largest X on the back). If a larger multiple is expected for this expansion of SOL, I would argue that SOL > $4,600 (which I think is unlikely).”
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