Over the past year, the Solana price has risen by an impressive 800%. This leaves big names like Bitcoin and Ethereum far behind. Solana is currently doing a bit less well, but that does not alter the fact that the 800% increase is a remarkable achievement.
Now it seems that an ETF is also coming for the coin, which is of course good news.
Better than Bitcoin and Ethereum
So Solana outperformed Bitcoin and Ethereum over the past year. That doesn’t mean the coin is anywhere near the big two.
Ethereum has a market cap of $409 billion, while Solana has to make do with $65 billion. In that respect, Solana has to rise by about 6-7x to catch up with Ethereum.
Bitcoin is way ahead of Solana. The largest digital currency on the market has a market cap of $1.2 trillion. To reach that level, Solana needs to flip a little over 18x from its current market cap.
In that respect, there is still plenty of room for growth for Solana, which relies mainly on memecoins. Do you expect the coin to have a strong period this year?
Optimism about the Solana ETF
At least there is some optimism about Solana at the moment. Rumors are that Solana could be the next coin to get an ETF in the United States after Ethereum.
For Bitcoin, the launch of ETFs in the United States was a fantastic development. The Bitcoin price has shot up by about 50% since then.
Soon the ETFs for Ethereum will launch and after that it should be Solana’s turn. Probably with the ETF launches for Ethereum we will get a better picture of what to expect for Solana.
If the Ethereum ETFs do well, we can probably expect Solana to see price explosions when the ETFs launch.
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Source: https://newsbit.nl/solana-schiet-800-omhoog-en-verslaat-bitcoin-en-ethereum/
