Which Crypto Will Dominate in 2024?

• SOL has risen more than 600% since September 2023 while ADA rose only 42.3%.
• Solana has a market cap of $70.92 billion while Cardano’s valuation stands at $12.95 billion.
• SOL became widely popular after pump.fun’s debut but ADA hasn’t witnessed a similar rally.

Solana (SOL) and Cardano (ADA), both considered rivals to Ethereum, the dominant blockchain in the crypto sector, have been vying for dominance since the 2021 digital asset market bull run. Currently, SOL holds the upper hand with a market capitalization of $70.92 billion, surpassing ADA’s valuation of $12.954 billion.

Recent Price Action and Trading Volume

In the past 24 hours, SOL climbed a remarkable 9.25% and is trading at $151.35 at the time of writing, while ADA is up only 3.99% and is priced at $0.3602. The trading volume of SOL rose roughly 5.04% and is now at $3 billion, whereas ADA’s trading volume dropped 3.90% and sits at $288 million, suggesting that Solana appears more attractive to investors.

In the past seven days, SOL surged a substantial 12.78% and is up 5.16% in the last 30 days. Meanwhile, ADA rose only a mere 1.14% in the past week and 0.72% in the past month. SOL is up 658.77% since September 2023 while ADA’s price has only increased 42.33% in the same period. 

Read also : Can Solana’s ZK Compression Upgrade Fuel SOL Price Surge?

SOL holds the position of the fifth-largest digital asset by market capitalization, while ADA is ranked 11th on CoinMarketCap. When it comes to trading volume, SOL is the sixth-largest cryptocurrency, while ADA is ranked considerably lower, holding the 28th position.

Solana became widely popular after the debut of its meme coin platform pump.fun, resulting in a massive rally for SOL-based meme cryptocurrencies. On the other hand, Cardano has yet to show an impressive rally with the incoming Chang hard fork, the Cardano Constitution, and the Voltaire upgrade. 

ADA and SOL Price Predictions

According to the Solana price prediction, the SOL token could go above $257 by the end of 2024 while claiming the $378 price level by the end of 2025. The cryptocurrency could trade at around $542 by the end of 2030. 

Read also : Cardano’s Bullish Outlook: Will Gold Tokenization Push ADA to $0.50?

Meanwhile, as per the Cardano price prediction, the ADA token is expected to reach a potential high of $0.81 by the end of 2024 while claiming a high of $1.40 by the end of 2025. The altcoin is poised to hit a price tag of $5 by 2029 and end 2030 at $6.75, a massive gain of more than 1,700%.