Solana Price Rises 7%, Trader Predicts Could Reach 50% of Ethereum Valuation

Bittime - Solana (SOL) experienced a significant 7% rise recently, with traders predicting that SOL could reach 50% of Ethereum (ETH) valuation in this cycle.

Solana Analysis According to Daniel Cheung

According to Daniel Cheung of Syncracy Capital, Solana closed the week with strong bullish sentiment, signaling the potential for a significant bull run like the one seen in the third quarter of 2021. 

Cheung underscored that Solana is an important hub of on-chain activity for the remainder of this cycle, with its broad accessibility to retail investors. This makes SOL one of the best assets to own. He also highlighted the high potential of the Solana ETF application, with increasing chances of success under a Republican administration.

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Analysis of Solana According to Eugene Ng Ah Sio

Eugene Ng Ah Sio, a crypto trader, also believes that SOL will become the market favorite. He attributed this confidence to the prospect of the Solana ETF application launching and its possible approval under a Republican administration. Sio highlighted that SOL is the most liquid voting proxy in the crypto world today, compared to other tokens that may have a certain agenda and appeal but are less liquid for large speculators.

Growth Potential and Market Analysis

With increasingly strong bullish sentiment and predictions from leading traders, Solana has a significant opportunity to continue its upward trend. The potential for SOL to reach 50% of Ethereum's valuation in this cycle shows great optimism among the crypto community.

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Conclusion

Nonetheless, it should be noted that investing in cryptocurrencies involves high risks, and investment decisions should be based on research and a deep understanding of the market. The information presented above is a market analysis and does not constitute investment advice.

Also Read: Prediksi Harga Solana: Roadmap Menuju $170

How to Buy Crypto in Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete Guide How to Buy Crypto on Bittime.