Analyst identifies Ethereum’s main competitor that will grow by 180%

A well-known analyst and trader has published his forecast for the value of a well-known cryptocurrency asset. The analyst, who goes by the pseudonym Inmortal, told his 209,800 followers on social network X that Solana (SOL) could repeat the rapid growth of its competitor Ethereum (ETH).

According to Inmortal, the Ukrainian developer’s blockchain cryptocurrency could rise in price by about 182% from the current price. If the fifth-largest cryptocurrency asset reached Inmortal’s target, the peak of the cycle, Solana’s price would increase 60 times compared to the low of December 2022.

«In the previous growth cycle, ETH rose from $ 80 to $ 4800. In this cycle, SOL will rise from $ 8 to $ 480,» the analyst said.

A few days ago, former Goldman Sachs executive Raul Pal suggested that Solana’s target price would range from $ 700 to $ 1,000. The investor expressed the opinion that the high performance of the blockchain will increase the demand for SOL.

It is worth noting that in early November 2021, SOL reached a peak of $ 260, and the coin still has plenty of room for growth.