Kaleo: Solana could rise to $ 2,000 per coin

A well-known cryptocurrency analyst under the name Kaleo has suggested that the altcoin Solana SOL $256.85 Solana -0.18% Market capitalization $121.92 billion VOL. 24 hours $1.29 billion could repeat the parabolic growth similar to that experienced by Ethereum ETH $3,336.79 Bridged Ether (StarkGate) 0.40% Market capitalization $0.28 billion VOL. 24 hours $2.11 billion in 2020 and grow by 850%-1000%. The crypto expert recalled that in August 2020, Ethereum was trading for $ 308, but by the end of the year, its price rose to $ 4,780. The analyst believes that Solana’s current behavior is very similar to Ethereum’s price movements in the previous cycle.

«If Solana shows the same growth from its previous peaks as ETH did in the last bullish trend cycle, then $ 1,000 per SOL coin is a very realistic goal. However, if we assume that Solana is now in the same position as ETH in August 2020, then we will get a 1,400% increase to $ 2,000 per coin,» Kaleo explained.

According to the CoinMarketCap analytical tracker, at the time of writing, SOL is showing a daily increase of 1.16% and is trading at $ 143. The total number of coins circulating on the market is $ 67.5 billion. Traders made daily trading deals worth $ 3.1 billion.