Bittime - A venture capitalist who correctly predicted the cryptocurrency market's bottom in 2022 says thatSolana (SOL) is almost ready to set a new record high. Chris Burniske, former head of crypto at Cathie Wood's ARK Invest, told his 286,200 followers on social media platform X that Solana was poised to hit a new record high.
“SOL looks hungry for an ATH (all-time high) in my opinion. 'Monthly close' is very close, and within circulating market capitalization. SOL is already there.” As of writing, SOL is worth $190.41, about 27% off its all-time high of $259.96 it hit in November 2021.
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Burniske also said that he expects Solana will outperform BNB (BNB) on its way to becoming the third-largest crypto asset without including stablecoins.
“BNB will lose its position as the number 3 ‘non-stablecoin’ forever soon. It was always going to be BTC, ETH [and] SOL in this cycle.”
Also read: What is Solana (SOL) Pay?
Solana's market cap currently stands at $84.53 billion while BNB is at $88.49 billion. Although the investor is optimistic about the crypto market, he said that traders and investors should keep their expectations reasonable.
“For the most part, the biggest multiples are behind us for this expansion, but the most exciting product development, and heady social excitement, is ahead of us – keep your feet on the ground… BTC at $200,000 = 2.86X of $70,000. BTC bottom in 2022 = $15,500, so we are already up 4.52X. Optimistic, but still reasonable," he wrote.
"Understand? Or take SOL, currently $192. It has risen 24X from its 2022 low of around $8. If you expect SOL to reach $1,000 (optimistic prediction), then you expect a 5.2X upside from here (largest multiple already behind). To say a bigger multiple is ahead for SOL in this expansion, claiming SOL > $4,600 (unlikely in my opinion),” he continued.
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Solana (SOL) Price History: The Journey to the Top
Solana, with the symbol SOL, has experienced a dynamic price journey since its inception. The following is a summary of Solana's price history that can provide an idea of the movement of this cryptocurrency:
- Highest Reached : Solana reached its highest price on November 6, 2021 , when it was trading at an all-time high of $259.96 .
- Lowest Point : Solana's lowest price was recorded on May 11, 2020 , when it was trading at an all-time low of $0.5008 .
- Price Fluctuations : At the beginning of December 2022, the average price of SOL/IDR was IDR 220 thousand, rising to IDR 410 thousand in mid-February 2023, then dropping to IDR 200 thousand in June 2023. Since June 10 2023 , the price of SOL/IDR has experienced a significant upward trend from IDR 220 thousand to IDR 1 million on December 8, 2023 .
- Latest Performance : Solana's real price today is IDR 2,993,411 with a 24-hour trading volume of IDR 72.41 trillion .
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These price movements reflect market dynamics and investor response to various developments in the Solana ecosystem. With ever-increasing adoption and technological innovation, Solana shows significant potential for future growth.
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How to Buy Solana (SOL) on Bittime
You can buy and sell Solana (SOL) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Solana (SOL) is available on Bittime with the market pair SOL/IDR. To be able to buy SOL IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete guide on how to buy Solana (SOL) on Bittime.
Monitor price chart movements for Solana (SOL), Bitcoin (BTC), Ethereum (ETH) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
What is a Solana Virtual Machine (SVM)? Understanding the Core Technology Behind Solana
Solana Price Prediction: Will Solana Continue to Surge Amid Falling Bitcoin Price?
Solana: Memecoin & Scam Boom, Is That All?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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