Saturday, March 25, 2023
No Result
View All Result
Blockchain Daily Report
Advertisement
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
Logo
No Result
View All Result
Home Altcoin

Can Solana (SOL) Bounce Back? Analyst Looks at Top Ethereum Rival After Bear Market Collapse

by Blockchain Daily Report
December 14, 2022
in Altcoin
Reading Time: 3 mins read
A A
0
Can Solana (SOL) Bounce Back? Analyst Looks at Top Ethereum Rival After Bear Market Collapse
Share on FacebookShare on Twitter


A preferred crypto strategist says that Solana (SOL) has the potential to go on an enormous rally and attain a brand new all-time excessive.

In a brand new video replace, the host of InvestAnswers tells his 444,000 YouTube subscribers that one option to gauge Solana’s present energy is to have a look at every day energetic utilization (DAU) amongst prime altcoins.

He says DAU is 572,500 for Ethereum (ETH), which is about 192,600 extra every day energetic customers than Solana’s 379,900. Solana’s DAU is above the DAU of different prime altcoins.

“If we have a look at the every day energetic customers of Solana versus Ethereum, you possibly can see Solana is down a bit, 379,900, a bit of bit increased than Polygon 359,500 and Ethereum 572,500, which is nice. However keep in mind, Polygon can run so much quicker than Ethereum, so why [aren’t] the transactions so much increased? As a result of there’s room for adoption. Cardano is in there at 49,800 which is sort of the identical as Close to Protocol [at 49,500]. Avalanche, 34,900 and Aptos 21,500. And that’s form of the lay of the land on the prime layer-1 chains.”

He subsequent seems to be at Solana’s market potential by evaluating its value if it shared the identical market cap as Cardano (ADA) and at completely different percentages of the market cap of Ethereum. He additionally seems to be at in the event that they attain their all-time excessive. He takes the outcomes and averages them to provide you with a doable worth for Solana at $52.61 and an all-time excessive value of $305.

“Assuming these different cash return to all-time highs and assuming that Solana continues on its development trajectory, then I imagine these are doable. And that is a mean of averages, which is a protected option to come at it. So, if we have a look at the matching Cardano market cap $29.61, 10% of ETH $42.74, 20% of ETH $85.48. The common of all three is $52.61. Is {that a} honest worth for SOL? Completely sure, I imagine that’s the case. However it has a black eye from the FTX fallout and every little thing else so it’s buying and selling at 1 / 4 of that worth proper now.

Now if we go to the all-time excessive and examine these $351.37, $188.21, $376.42 that offers us a mean of $305.33, which is greater than the Solana all-time excessive of $259. May Solana attain an all-time excessive and exceed it? I imagine it’s doable if the expansion continues, the adoption continues and there aren’t any extra issues to kick within the tooth as we go ahead.”

At time of writing, Solana is altering fingers at $13.87.

I

Do not Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox

Test Worth Motion

Comply with us on Twitter, Fb and Telegram

Surf The Each day Hodl Combine

Test Newest Information Headlines

&nbsp


Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any loses chances are you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate marketing online.

Featured Picture: Shutterstock/Kiran 360 Diploma



Source link

Tags: AnalystBearBouncecollapseEthereumMarketRivalSOLSolanaTop
Share76Tweet47

Related Posts

Under-the-Radar Web3 Altcoin Erupts 140% This Week Amid $40,000,000 Fundraising Round

Under-the-Radar Web3 Altcoin Erupts 140% This Week Amid $40,000,000 Fundraising Round

by Blockchain Daily Report
March 25, 2023
0

A web3 altcoin that’s flying below the radar has surged to a brand new all-time excessive this week amid a...

Dogecoin Price: Buy the Dip or Sell the Rip?

Dogecoin Price: Buy the Dip or Sell the Rip?

by Blockchain Daily Report
March 24, 2023
0

Dogecoin worth has been range-bound for the previous few days as buyers weigh up the latest banking disaster on fears...

LATOKEN, a Leading Global Crypto Exchange, Acted as IEO and Listing Partner for the Upcoming Spread Wisdom Project | by The Capital Platform | The Capital Platform | Mar, 2023

LATOKEN, a Leading Global Crypto Exchange, Acted as IEO and Listing Partner for the Upcoming Spread Wisdom Project | by The Capital Platform | The Capital Platform | Mar, 2023

by Blockchain Daily Report
March 24, 2023
0

LATOKEN, a number one international digital property change, broadcasts the launch of upcoming Preliminary Trade Providing (IEO) of SPREAD WISDOM...

Whales Abruptly Move $195,231,414 in Shiba Inu Rival and Bitcoin From Top Crypto Exchange Amid Market Turbulence

Whales Abruptly Move $195,231,414 in Shiba Inu Rival and Bitcoin From Top Crypto Exchange Amid Market Turbulence

by Blockchain Daily Report
March 24, 2023
0

A pair of crypto whales simply moved large quantities of Bitcoin (BTC) and one Shiba Inu (SHIB) competitor out of...

Ethereum Price Dips as Markets Digest Latest Fed’s Interest Rate Decision

Ethereum Price Dips as Markets Digest Latest Fed’s Interest Rate Decision

by Blockchain Daily Report
March 23, 2023
0

Ethereum worth has been hovering round its highest degree in 7 months for the previous few days amid a lift...

Load More
  • Trending
  • Comments
  • Latest
Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

January 23, 2023
WildRig Multi 0.36.4 beta Now With Faster NEXA Performance and Lower Fee

WildRig Multi 0.36.4 beta Now With Faster NEXA Performance and Lower Fee

January 23, 2023
BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

March 25, 2023
Crypto scams, exploits down 71% YoY as $370M lost since January

Crypto scams, exploits down 71% YoY as $370M lost since January

March 25, 2023
Under-the-Radar Web3 Altcoin Erupts 140% This Week Amid $40,000,000 Fundraising Round

Under-the-Radar Web3 Altcoin Erupts 140% This Week Amid $40,000,000 Fundraising Round

March 25, 2023
US Crypto Crackdown Could Stifle Innovation and Weaken Dollar

US Crypto Crackdown Could Stifle Innovation and Weaken Dollar

March 25, 2023
Nasdaq Targets Mid 2023 For Crypto Custody Launch

Nasdaq Targets Mid 2023 For Crypto Custody Launch

March 25, 2023
Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon – Economics Bitcoin News

Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon – Economics Bitcoin News

March 25, 2023
Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

March 25, 2023
Nasdaq to Launch Crypto Custody Services by End of Q2

Nasdaq to Launch Crypto Custody Services by End of Q2

March 25, 2023
Facebook Twitter Instagram Youtube RSS

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Blockchain Daily Report.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

  • bitcoinBitcoin(BTC)$27,753.00-1.04%
  • ethereumEthereum(ETH)$1,765.72-0.65%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.03%
  • binancecoinBNB(BNB)$326.120.69%
  • usd-coinUSD Coin(USDC)$1.010.32%
  • rippleXRP(XRP)$0.4512415.60%
  • cardanoCardano(ADA)$0.3609590.22%
  • dogecoinDogecoin(DOGE)$0.0755161.08%
  • staked-etherLido Staked Ether(STETH)$1,760.70-0.47%