Ukrainian developer’s blockchain cryptocurrency is predicted to grow by 2500%

Chris Berniske, a former ARK Invest expert and now a specialist at Placeholder Capital, has shared an optimistic forecast for the development of the Solana virtual coin.

The cryptocurrency expert noted that he «sees a future in which Solana will not only compete fiercely with Ethereum but also potentially eclipse it.» Breniske predicted that investments in Anatoliy Yakovenko’s native blockchain cryptocurrency will grow by another $ 2 million. Bullish expectations, according to the analyst, depend on whether Solana doubles its peak value, which in November 2021 was approximately $ 260.

«I think it’s likely that SOL will rise to at least double its previous all-time high. However, I can always be wrong,» Berniske said, emphasizing the volatile and speculative nature of the crypto market.

Earlier, Berniske emphasized that Solana could outshine Ethereum in the upcoming bull rally. The reason for this is the expansion of the blockchain functionality by Anatoly Yakovenko, the reduction of transaction fees on the network, and the launch of new successful products.

«Quiet product launches, updated functionality, lower fees, higher throughput, and lack of hype are all signs of a new product cycle rising from the ashes,» the Placeholder Capital analyst said.

Berniske also noted that he «maintains a positive stance,» dismissing the possibility that cryptocurrency giants will hit new lows in 2023. He said that he foresees a steady uptrend that will dominate the next few years.

At the time of writing, SOL is worth $ 18.2, which is 1.96% lower than yesterday. The coin’s market capitalization amounted to $ 7.48 billion, and traders made daily trading deals worth $ 375.07 million, an increase of almost 19%.