This Ethereum Killer is Predicted To Surge 8x In Coming Months

After Ethereum rallied to $2,030, the price has been experiencing a dry spell and has been unable to breach higher levels due to the harsh market conditions. 

Ethereum (ETH 1.36%) has decreased by over 65% since last year. In addition, Solana’s price has also decreased by over 85% so far this year, thus, it’s safe to believe that the coin was greatly oversold. 

In light of potential future rallies and other popular cryptocurrencies, crypto analyst James Mullarney forecasts an exponential rally for one of Ethereum’s (ETH) primary rivals.

Solana versus Ethereum

Mullarney, the host of InvestAnswers, informs his 444,000 YouTube subscribers that SOL might be propelled back to its all-time high of $259.65 if the smart contract platform Solana sees widespread adoption. 

“I do believe it’ll at least get to 20% of ETH’s market cap in the very near future,” the investor said, referring to Solana’s low price relative to Ethereum’s market cap despite the latter’s greater adoption and volume of transactions.”

He anticipates Bitcoin (BTC) will recover first whenever the market receives positive momentum and Ethereum will follow closely, with funds flowing from successful projects to those still in development. 

Should you invest in Solana right now? 

Market participants are left in flux as to whether they should buy the dip or not. 

James Mullarney predicts that Solana has the potential to appreciate significantly and deliver an 825% return if successful. Investing in Solana only triples your return on Ethereum, but it has a higher degree of danger. However, it will, indeed, stand the test of time. 

The popular host believes that Solana has a high chance of achieving the $260 level. The adoption should proceed if they carry on with their current course of action, exit mainnet beta, experience no further outages, and resolve all of their issues. 

However, this isn’t without a fair share of obstacles. The so-called “SOL killer” Aptos (APT), which he believes is partly to blame for the weakness in the layer-1s last week, is one of the new names siphoning the air out of the room.