Ethereum News: A veteran cryptocurrency trader has claimed that a “bullish potential” altcoin will significantly outperform Ethereum this year. The veteran crypto trader and analyst has revealed about a mid-size altcoin that he says will outperform Ethereum significantly this year.
The trader, nicknamed The Crypto Dog, told his 539,500 followers that smart contract platform Solana (SOL) has the potential to reach Ethereum’s $250 billion market cap.
“The SOL/ETH chart looks incredible, extremely bullish. SOL has the potential to increase 10x before catching up with Ethereum in its current market cap, and even double thereafter. I expect Solana to capture several times the value to reach the market cap of Ethereum this year.”
The Crypto Dog explains
According to CoinMarketCap, Solana is trading at $33.23 at the time of writing, with a valuation of $9.05 billion. SOL needs to rise above 27x to get closer to Ethereum’s current market cap. The analyst also points out that for Solana to outperform, Ethereum does not need to catch up with its market cap. He says Solana “must achieve only a fraction of what ETH does.”
Comparing the bull cycle of 2021 to that of 2017, the trader believes that the crypto markets are poised to hit all-time highs due to the influx of funds in the market.
“The difference between this cycle and the end: Many of us have earned enough to survive comfortably and continue HODL. We also have sufficient capital and ample prospects for future funding to know that we will see new heights again as an industry…”
According to the crypto investor, at some point the markets will recover so quickly that some investors will stay behind and continue to watch.