Cardano has seen another new all-time high above the $218 level this week as the coin tries to overtake Cardano as the main threat to Ethereum.
Both coins have earned the tag of “Ethereum killers” and they are both seeing new adoption as ETH users lose patience with the high gas fees of ETH.
Crypto researcher Ma Maher recently discussed the outlook for both and saw SOL winning the race.
“And I was surprised to see that Solana has quite the chance here, looking strictly at the data,” Maher said.
For both altcoins, Maher looked at the total wallet addresses with more than $2 and then took up the same metric a month later. In that time, Cardano saw a10.9% gain, while Solana’s was 22.6%.
“This means, if Solana kept at the prevailing rate of 22.5% – which is huge – but if they were to keep at that rate, they would pass Cardano in total user size, total wallet addresses, in about six months. And that really highlights the growth here and what these percentage gains can do.”
It’s never as simple as projecting a one month growth rate but Solana’s rise has been meteoric and is another example that coins that have been around longer are losing investors’ patience in the recent market.
SOL Price Prediction
The price of Solana marked the new high above $218 yesterday and this gives the coin a market cap of $62 billion. The coin is at number 6 in the list of coins and trades behind Tether and Cardano, with the latter having a $71 billion market cap. The price of SOL has retreated from yesterday’s high and there is a risk that it could be a top for the coin if BTC also fades. A correction would target the $150-160 level. That would be a better buying opportunity for bulls. On current form it looks like SOL will take the crown of Cardano as the main rival to Ether.