- Ben Armstrong thinks Solana would be one of the best-performing cryptocurrencies in the upcoming bull run.
- Armstrong believes Solana has a slim chance of surpassing Ethereum in market cap.
- According to Armstrong, investors may leave Ethereum for Solana over arbitrary secondary issues.
Ben Armstrong, a renowned crypto YouTuber, thinks Solana would be one of the best-performing cryptocurrencies in the upcoming bull run. In a recently uploaded video, Armstrong described Solana as a “Christmas gift that just keeps on giving.”
Despite his observations and Solana’s recent antecedents, Armstrong thinks that Solana is poised to be the second-highest achiever by the time the bull run concludes, with XRP leading. Beyond expected gains, Armstrong also suggests that it’s time to initiate a conversation about whether Solana has the potential to rival Ethereum in terms of market capitalization.
Although he believes there is significant controversy around the idea of Solana surpassing Ethereum in market cap, the BitBoy Crypto host believes there is a wildcard chance it could happen. Nonetheless, he said it would be much harder for Solana to catch Ethereum than for Ethereum to catch Bitcoin.
Having acknowledged how potentially difficult it would be for Solana to grow that much, Armstrong observed a developing trend of the influx of institutional investors into the Solana network. He noted that last week, the amount of institutional funds that flowed into the Solana network was about four times the amount invested in Ethereum.
While Ethereum attracted around $3.3 million in institutional funds, the amount injected into the Solana network by the same category of investors was $13 million. Armstrong mooted the possibility of this pattern continuing, especially with the ongoing arbitrary issues within the background among Ethereum stakeholders. He wondered if this could lead to an exodus of investors from Ethereum to Solana.
According to Armstrong, even if Solana performs four times better than Ethereum in market cap, it would still not catch up with the flagship altcoin. However, he thinks there is an outside chance of about 20% that it could still happen.
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