Thursday, December 7, 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

Cracking the Code: Your Essential Guide to Crypto Trading for Beginners in 2023 | by Gaze All Over | The Dark Side | Dec, 2023

Cracking the Code: Your Essential Guide to Crypto Trading for Beginners in 2023 | by Gaze All Over | The Dark Side | Dec, 2023

by Blockchain Daily Report
December 7, 2023
0

Unlocking the secrets and techniques of crypto buying and sellingCryptocurrency. It’s the digital buzzword that’s fascinating the world, promising revolutionary...

Trader Predicts Massive Solana (SOL) Rally to New All-Time High of $360 – Here’s His Timeline

Trader Predicts Massive Solana (SOL) Rally to New All-Time High of $360 – Here’s His Timeline

by Blockchain Daily Report
December 6, 2023
0

A well-liked crypto analyst thinks Ethereum (ETH) competitor Solana (SOL) may skyrocket to new all-time highs inside the subsequent 12...

Analyst Predicts Rallies for Cosmos, Gala and One Bitcoin Ecosystem Altcoin – Here Are His Targets

Analyst Predicts Rallies for Cosmos, Gala and One Bitcoin Ecosystem Altcoin – Here Are His Targets

by Blockchain Daily Report
December 5, 2023
0

A broadly adopted crypto strategist believes massive rallies are imminent for a trio of altcoins together with Cosmos (ATOM) and...

Navigating Bitcoin’s Valuation Landscape: A Strategy Derived from Plan B’s Stock to Flow Model | by Joshua Moroles | The Dark Side | Dec, 2023

Navigating Bitcoin’s Valuation Landscape: A Strategy Derived from Plan B’s Stock to Flow Model | by Joshua Moroles | The Dark Side | Dec, 2023

by Blockchain Daily Report
December 4, 2023
0

Within the dynamic world of cryptocurrency, Bitcoin continues to reign as a topic of intense hypothesis and research. The mysterious...

LTС to BTC: Is This Crypto Swap Worth the Hype? | by Georgia Bloggs | The Dark Side | Dec, 2023

LTС to BTC: Is This Crypto Swap Worth the Hype? | by Georgia Bloggs | The Dark Side | Dec, 2023

by Blockchain Daily Report
December 5, 2023
0

As cryptocurrency continues to realize mainstream consideration and adoption, increasingly buyers are on the lookout for methods to diversify their...

Load More
  • Trending
  • Comments
  • Latest
Arbitrum Sepolia Faucet – How to Claim Arbitrum Sepolia Testnet Funds

Arbitrum Sepolia Faucet – How to Claim Arbitrum Sepolia Testnet Funds

October 24, 2023
Santa Claus Rally for Stocks Came Early?

Santa Claus Rally for Stocks Came Early?

November 4, 2023
Rare Signal Predicts Next XRP Price Move: Crypto Analyst

Rare Signal Predicts Next XRP Price Move: Crypto Analyst

November 30, 2023
DOT Price (Polkadot) Spikes 5% and Primed To Surge Toward $6

DOT Price (Polkadot) Spikes 5% and Primed To Surge Toward $6

December 1, 2023
Bitcoin Price Breaks Above $38,000, These Are The Reasons

Bitcoin Price Breaks Above $38,000, These Are The Reasons

December 1, 2023
Neo Price Prediction for Today, December 1 – NEO Technical Analysis

Neo Price Prediction for Today, December 1 – NEO Technical Analysis

December 1, 2023
Crypto Analyst Predicts 4400% XRP Price Surge To $27, Here’s When

Crypto Analyst Predicts 4400% XRP Price Surge To $27, Here’s When

November 28, 2023
Ethereum Price Recovers, Why 100 SMA Is The Key To Fresh Increase

Ethereum Price Recovers, Why 100 SMA Is The Key To Fresh Increase

November 29, 2023
Bitcoin Poised For December Surge As Historical Patterns Suggest Strong Upside Ahead

Bitcoin Poised For December Surge As Historical Patterns Suggest Strong Upside Ahead

December 7, 2023
Binance CEO Richard Teng refuses to reveal location of company HQ

Binance CEO Richard Teng refuses to reveal location of company HQ

December 6, 2023
Design Miami’s digital future looms large after acquisition by Basic.Space

Design Miami’s digital future looms large after acquisition by Basic.Space

December 6, 2023
Binance May Be The Major Catalyst Behind LUNC Rally, Here’s Why

Binance May Be The Major Catalyst Behind LUNC Rally, Here’s Why

December 6, 2023
10 Creative Content Ideas Inspired by Gary Vee

10 Creative Content Ideas Inspired by Gary Vee

December 7, 2023
Duplex Democracy

Duplex Democracy

December 7, 2023
New Cryptocurrency Releases, Listings, and Presales Today – DecentraMind, CRAZYDOGE, 5ire

New Cryptocurrency Releases, Listings, and Presales Today – DecentraMind, CRAZYDOGE, 5ire

December 6, 2023
Binance Lists Small Cap ‘Euro-Pegged’ AEUR, But It All Ends In Disaster

Binance Lists Small Cap ‘Euro-Pegged’ AEUR, But It All Ends In Disaster

December 6, 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.

You have not selected any currencies to display