Finding Value in Cryptocurrency Projects
Finding projects that increase in value and grow their user base in the world of cryptocurrency is not that easy. This is because variability is inherent in this sector. The fluctuation of prices, the ups and downs, and the double-digit drops or rises seem to be one of the biggest challenges that investors face.
Now, among these challenges, one altcoin stands out. Moreover, there are comments from the major asset management company, VanEck.
Solana’s Recovery Despite FTX
The future looks bright for Solana. Because SOL, which was below eight dollars in 2020, has now reached over 60 dollars. Of course, one of the main reasons for the price decline was the FTX crash.
The FTX story is slowly coming to an end. Meanwhile, Solana is carving out a new space for itself. Since the beginning of the year, the SOL price has risen from $9.81 to $63.96. An increase of more than 5 times. There was some profit-taking today. Therefore, there was a slight pullback for SOL. However, SOL quickly recovered due to the influence of those who wanted to buy at the bottom. As I write this article, SOL is trading at $53.74.
VanEck Analysts’ Solana Prediction
A fivefold increase is certainly satisfying for most investors. However, the major asset management company, VanEck, believes that this rise is just the beginning. Moreover, they have even set their targets for 2030. According to them, Solana is expected to reach a price tag of $3,211.
The approaches of Patrick Bush, a senior analyst at VanEck, and Matthew Sigel, VanEck’s Head of Digital Assets Research, are noteworthy. Both emphasize the price tag mentioned above for Solana while stating that Solana cannot surpass Ethereum ETH in competition with Ethereum.
Analysts are Optimistic about Solana
According to the cryptocurrency analyst iconicXBT, Solana will reach a new record. According to this, during the upcoming bull run, SOL will reach $500.
Cryptocurrency trader Altcoin Sherpa, on the other hand, has a short-term perspective. According to the analyst, who states that the correction in price is very healthy, the SOL price will reach $75 in a few weeks.