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Over the final week, Ethereum-killer Solana (SOL) has been main the altcoin market rally with 14% good points, whereas different prime ten cryptocurrencies have given flat returns. As of press time, Solana (SOL) is buying and selling 3.2% up at a worth of $$21.83 and a market cap of $8.7 billion.

Veteran investor Raoul Pal has not too long ago shared his robust bullish view on Solana’s (SOL) price surge going forward. During his current interview with InvestAnswers, Pal stated that Solana may just about observe within the footsteps of Ethereum after ETH hit a low in 2018.

Back then, the ETH worth surged by a staggering 47 occasions. Pal says that even when Solana doesn’t replicate the Ethereum efficiency, it may no less than surge by 20 occasions. He added:

“There’s a potential, a possibility [of] a dream scenario that Solana does what ETH did from the 2018 low, which was a 47x. And so [the] Solana low was $9, so you could do the math, the numbers are potentially very interesting – that it’ll be 20-something X from here for Solana.”

He believes that this estimate is sensible contemplating Solana’s well-established protocol and the notable development in community and ecosystem exercise.

If Pal’s constructive prediction proves to be right, the value of Solana may probably exceed $400 sooner or later. This would symbolize a considerable enhance from its earlier highest worth of $259.96 reached within the earlier bull market.

Solana Sees Strong Inflows

As stated, Solana (SOL) has been on a robust footing over the past week taking a contrarian view to the broader crypto market. The present shopping for strain in Solana is influencing the SOL worth trajectory whereas comfortably holding above the $20 assist stage.

There’s no particular catalyst behind the present SOL worth rise, however just a few issues to think about. A noteworthy instance is the partnership between Coca-Cola in Serbia and Solana NFT platform SolSea. They have joined forces to supply non-fungible tokens (NFTs) throughout a music occasion. As a part of this collaboration, Coca-Cola will present 100 unique hoodies together with accompanying NFTs to chosen individuals.

It might be fascinating to see if SOL can proceed with its worth trajectory going forward.

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Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is constantly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and generally discover his culinary abilities.

The offered content material could embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.