Recently the market sentiment on the two coins SOL and ETH has seen many price fluctuations since the start of the year. Now that Glassnode co-founders, Jan Happel and Yann Allemann, known as Negentropic, have projected Solana (SOL) to potentially outperform Ethereum (ETH) by 500% the market is curious to know if this will be true.
Experts Waged Debate on Solana Price
This optimistic outlook follows discussions with macroeconomist Henrik Zeberg and Global Macroinvestor CEO Raoul Pal, who highlighted Solana’s magical momentum in the SOL/ETH chart in terms of risk-adjusted returns on the Crypto Banter Show.
They both have a similar outlook on SOL’s upward movement in the chart is an indicator that it will surpass ETH soon. Looking at the key trajectories of Solana, the analysts are also betting $10000 investment in SOL as they expect it will rise in the coming weeks while answering the interviewer.
To give a more concrete example, the co-founders of Glassnode look at the current SOL/ETH ratio, which is 0.14. Based on their prediction, this ratio is expected to go up a lot, possibly hitting 0.76. If this happens, it means that Solana will do four to five times better than Ethereum as the crypto market continues to rise during this bullish phase.
But he has similar hopes with ETH too. He notes that this potential outperformance could continue until the cryptocurrency market reaches its peak. Importantly, the analysis doesn’t envision a solo surge for Solana; instead, it anticipates a significant bullish rally for Ethereum as well.
Current Market Sentiments
While Solana is currently trading at $98.55 with a 4.7% weekly decline, and Ethereum at $2,516 with a similar decline, the Glassnode founders express confidence in Solana’s continued success. Despite recent fluctuations, Solana has exhibited a robust one-year trajectory, growing by 340.43% from $20. Ethereum, in comparison, has a one-year growth of 59%, rising from $1,515.
Since both coins are rising on distinct parameters, the market is still divided. Only time will tell who wins.
