SAN FRANCISCO, CA November 21, 2023 – Solana (SOL), the high-performance blockchain protocol often referred to as the Ethereum killer, has recently experienced a remarkable surge in price, reaching a new high for the year 2023 at approximately $58. 1 This significant price increase has fueled speculation among analysts that SOL could potentially reach a valuation of $1,000 per coin. Earlier, crypto analyst Jacob Canfield claimed, based on his study, that SOL was poised for an unprecedented market surge.
Canfield’s analysis is based on several indicators, including the Solana Dominance (SOL.D) chart, which highlights the potential for Solana to triple or quadruple its all-time high market dominance to around 12–15%.
Canfield also predicts that if it continued to trend against Bitcoin (BTC), it could easily reach a price of $1,000 per coin and claim the second spot behind Bitcoin in the cryptocurrency market.
This would represent a significant milestone for Solana, positioning it as a direct competitor to Ethereum, the current leader in the blockchain space.
If the price continues to rise and it achieves a valuation of $1,000 per coin, it would represent a significant shift in the cryptocurrency landscape and could potentially challenge Ethereum’s dominance in the smart contracts and DApp space, sources said.
- Solana: https://rb.gy/xpaaxp[↩]
