- Youtuber says SOL would claim 20% of ETH’s market cap in the bull rally.
- SOL trades at $30.44, with a 10.54% cumulative increase in the previous seven days.
- Solan’s race to the previous all-time high would offer new investors an 825% return.
James Mullarney, a presenter at the InvestAnswers YouTube channel, believes Solana (SOL) will claim at least 20% of Ethereum (ETH)’s market cap in the bull rally of the coming months.
Mullarney argued that the Solana blockchain is as widely adopted as Ethereum in the developer community despite being only one-sixth of ETH’s market value. He shared a screenshot to prove a point that if top cryptos like Bitcoin (BTC) and ETH rally back to their all-time highs, SOL would appreciate significantly to deliver an 825%.
However, the presenter disclaimed that investing in SOL would cause more risk than buying BTC or ETH. He believes the market recovery would start with Bitcoin, then Ethereum; afterward, money would transfer from the runners to the runner-ups, which may be Solana.
The crypto community often refers to the Solana blockchain as the Ethereum killer. SOL is the sixth most significant cryptocurrency by market cap, excluding stablecoins, with a total value of nearly $11 billion. It currently trades at $30.44, with a 10.54% cumulative increase in the previous seven days.
Yesterday, crypto market intelligence firm Messari published a report highlighting Solana’s network and financial performance in the year’s fourth quarter.
It revealed that Unique Fee Payers and Unique Signer revenue are down by 25%, and average transaction fees dropped by 42%. However, its market cap has remained stable. Additionally, Messari’s report established Solana as one of the most valuable Layer-1 networks in the face of competition.