- Most investors believe that SOL will outperform ETH.
- 30% of investors expect Solana to triple.
- Interest in AI tokens is growing.
Solana has seen impressive growth this year as investors regain confidence in the token. This trend has continued since the recent cryptocurrency bull market, recording a 280% year-on-year increase. Even with this significant growth, many traders are expecting continued growth.
MV Capital’s most recent survey of venture capitalists and fund managers showed significant optimism about Solana. In particular, many of these investors expect Solana to continue to outperform Ethereum.
Institutional support for Solana remains strong
Institutional investors are bullish on Solana. The latest MV Capital Industry Survey asked 76 industry leaders among venture capital and liquid capital allocators about their market outlook. Most were optimistic about Solana.
Specifically, 75% of respondents said Solana would outperform Ethereum in the current market cycle. Moreover, 30% of respondents believe that Solana could surpass $600 during the same period, an increase of 181% from the current price of $213.
Optimism about Solana stems from growing institutional interest and improving network metrics. For example, Solana achieved record trading volume again in early November. Moreover, Solana’s DeFi ecosystem has continued to grow, reaching a market capitalization of $100 billion.
Bitcoin Sentiment Still Conservative
The same survey by MV Capital also measured investor interest in other cryptocurrencies. This includes growing cryptocurrency market segments such as Bitcoin, Ethereum, and artificial intelligence (AI).
Investors surveyed set their Bitcoin price targets as conservative estimates, suggesting price targets for this cycle of $100,000 and $150,000. Bitcoin recently reached an all-time high of $91,765 before falling to $87,263.
For Ethereum, which is currently trading at $3,077, one-third of investors expect a high of $3,000 to $5,000. Another third predict a range of $5,000 to $7,000. Additionally, 43% of investors expressed strong interest in AI tokens.
On the flip side
- More funds are working to capitalize on growing institutional interest in Solana. Recently, DeFi Technologies launched another product. ‘MicroStrategy for Solana.’
- Solana continues to be criticized for its centralization. Last October, Edward Snowden selected Solana as a centralized blockchain model.
Why This Matters
The opinions of leading industry experts are an important gauge of institutional interest. Their optimistic sentiments suggest that Solana continues to maintain credibility among institutions.
Learn more about Solana’s participation in FTX:
Department of Justice (DOJ) Seizes $16 Million in FTX Bribes (Mainly from Solana)
Learn more about Bitget’s performance.
Bitget sees record trading volumes, relaunches in UK