Investors Are Accumulating These Altcoins as Bitcoin Enters Bear Market - Latest cryptocurrency news

Investors Are Accumulating These Altcoins as Bitcoin Enters Bear Market

Crypto investors have started accumulating altcoins that have shown significant strength by surpassing the 50-week Simple Moving Average (SMA) barrier, especially as they anticipate a new bear market. James, the host of crypto-focused YouTube channel InvestAnswers and an anonymous crypto analyst, recommends investors to pay attention to Ethereum (ETH) and Solana (SOL) in particular.

James, the crypto analyst from YouTube channel InvestAnswers, predicts that Solana’s market value will reach 10% of Ethereum’s market value in the next growth phase of the crypto market.

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According to the analyst’s predictions, if Ethereum’s price exceeds $8,000 in the next bull market and Solana’s market value reaches 10% of ETH’s market value (a milestone previously reached), this would imply a price of $231 for SOL and represent an approximate ROI of 278% from its current price of $61.02.

A few days ago, Solana’s Total Value Locked (TVL) in the DeFi ecosystem surpassed $655 million, reaching a new annual high. This represents a significant increase of 211% from the $210.47 million TVL recorded on the first day of the year. Additionally, Solana provides an extraordinary transaction speed, surpassing tens of thousands of transactions per second, giving it a significant advantage over Ethereum’s 15 transactions per second. This high transaction speed can make Solana a preferred option for decentralized crypto exchanges (DEXs) and the Non-Fungible Token (NFT) market, which require high transaction speeds.

James, the crypto analyst, also emphasized that in a more optimistic scenario, Solana could capture 20% of Ethereum’s market value. If Solana reaches this milestone, the expert predicts a market value of approximately $192 billion for SOL. Considering the accessible market value and circulating coin supply, the price of SOL could rise to $453, showing a 2038% ROI compared to current prices. InvestAnswers has already mentioned that Solana has surpassed the 10% mark in the past.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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