Investors in SOL might want to look at these reasons it could spike 5,000%.
Solana, which rivals Ethereum for its top spot in the smart contracts sector, has fallen by over 85% after peaking out in November 2021 at nearly $267. That leaves the token with the room to fall by another 10% when measured from its said record high.
Meanwhile, another popular analyst, Spencer Noon, thinks on the same lines, albeit without sharing a clear upside target.that Solana has been going through a"disillusionment" phase that plagued the Ethereum market in 2018, noting that the project would eventually overcome its difficulties. The fund inflows appear as Solana's market capitalization gradually creeps toward Ethereum's following its launch in March 2020.
For instance, according to Nansen, Solana's weekly volumes across major nonfungible token marketplaces, including OpenSea and MagicEden, have been in a constant uptrend, whereas Ethereum's have tapered off in recent months.
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