• Analysts at InvestAnswers believe Solana (SOL) is significantly undervalued compared to Ethereum (ETH).
• Despite having a similar number of daily active addresses as ETH, SOL’s market cap is only 1/25th of ETH’s.
• SOL has a promising future and should remain in focus for investors.
What is Solana (SOL)?
Solana (SOL) is a promising competitor to Ethereum (ETH), which has recently caught the attention of cryptocurrency enthusiasts. SOL operates on its own blockchain network and offers high user engagement and a wide range of decentralized applications (DApps). Despite having a similar number of daily active addresses as ETH, SOL’s market cap is only 1/25th of ETH’s.
What Do Analysts Think About Solana?
Analysts at InvestAnswers recently released an update about their thoughts on the potential of Solana (SOL). They noted that despite its impressive transaction volume and growing user activity, the current market cap for SOL remains far lower than that of Ethereum. The analysts believe that Solana’s market cap should be at least 1/10th that of Ethereum’s current valuation; this would result in an approximate 3X pump for SOL if achieved.
Can Solana Break The $30 Threshold?
The analyst also addressed whether or not Solana could break the critical $30 threshold. According to their analysis, there appears to be no clear trading pattern between Solana and Ethereum due to various issues including the FTX debacle, which has caused difficulties for SOL over the past year. To break out from this downward trend, Solana would need to exceed the $30 threshhold in order for it to gain momentum against Ethereum.
What Is The Market Saying?
The crypto community continues to show strong support for Solana as many are labeling it an ‘undervalued asset’ with great potential. This sentiment can be seen through social media platforms such as Twitter where users are actively discussing potential opportunities with SOL tokens and even providing price predictions on how high they may reach in value over time.
All-in-all, while there is still much speculation surrounding Solana’s performance against Ethereum over time, it appears that many investors are optimistic about its future prospects given its impressive fundamentals and growing popularity among crypto enthusiasts. As such, investors should keep an eye open on any developments or news coming from both projects in order to capitalize on any potential gains or losses arising from these two competing blockchains