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Solana (SOL): Ethereum competitor expects more than 2x profit this year
Find out which Ethereum competitor could see over 2x profit growth this year, according to a renowned crypto strategist. Also find out the current prices of Solana, RSS3 and Ondo Finance as well as the trader's assessments of these cryptocurrencies. Stay up to date and subscribe to our newsletter. Please note, however, that the opinions expressed in the article do not constitute investment advice.
Solana (SOL): Ethereum competitor expects more than 2x profit this year
Summary
A crypto analyst who goes by the pseudonym Altcoin Sherpa predicts that Solana (SOL) will reach new all-time highs this year. Although he is bullish on SOL in the long term, he expects an initial decline before the cryptocurrency starts a new upswing. Altcoin Sherpa also believes that other cryptocurrencies such as RSS3 and Ondo Finance have potential to generate profits. However, both of these coins have declined in the last 24 hours.
Impact and context
Solana (SOL) is one of Ethereum's competing cryptocurrencies and is viewed as promising by many investors. Solana has been making a name for itself recently due to its fast transaction speeds and low fees. Altcoin Sherpa's prediction of new all-time highs for SOL could be an incentive for investors to take a closer look at this cryptocurrency.
RSS3 is a decentralized information processing protocol that may trade in a price corridor. Although the analyst calls RSS3 a “super strong coin,” the price has declined in the last 24 hours. Investors should take this into account when making decisions.
Ondo Finance (ONDO) is a project that aims to assign tokens to real-world assets such as short-term bonds and US Treasury bills. ONDO's potential is highlighted by altcoin Sherpa, but the price has also fallen in the last 24 hours.
It is important to note that cryptocurrencies are subject to large price fluctuations and analyst predictions may not always be accurate. Investors should do their own research and make careful decisions.
Table
| Cryptocurrency | Price (USD) | Change (24 hours) |
|---|---|---|
| SOL | $187.90 | -6% |
| RSS3 | $0.448 | -15.4% |
| ONDO | $0.422 | -12% |
Body text
A well-known crypto analyst who goes by the pseudonym Altcoin Sherpa has released his forecast for Solana (SOL), expecting the cryptocurrency to reach new all-time highs this year. SOL is a competitor to Ethereum and has attracted a lot of attention in the crypto community. The project is characterized by high transaction speed and low fees. According to Altcoin Sherpa, SOL could see a price increase of more than 2x this year.
However, despite his long-term bullish stance, the analyst expects SOL to experience a decline before a new upswing. He suspects the drop could be in the $200-250 range, but is unsure how severe it will be. Altcoin Sherpa remains confident in SOL, calling it the best chain for retail. In his opinion, SOL could reach over $500 by 2024.
Altcoin Sherpa’s forecast could be of great interest to investors interested in SOL. However, it is important to remember that predictions are never guaranteed and that the crypto market is very volatile. Investors should do their own research and make careful decisions.
Altcoin Sherpa also shared his opinions on other cryptocurrencies. RSS3, a decentralized information processing protocol, appears to be trading in a price corridor, according to the analyst. He highlights the strength of RSS3 and states that he is still invested. However, the price of RSS3 has fallen by 15.4% in the last 24 hours.
Another coin that Altcoin Sherpa mentions is Ondo Finance (ONDO). ONDO is a project that aims to tokenize real-world assets, including short-term bonds and U.S. Treasury bills. The analyst is bullish on ONDO and recommends buying it at a price of around $0.43. ONDO has also seen a decline of over 12% in the last 24 hours.
It is important to note that investing in cryptocurrencies involves risks. The market can be very volatile and prices can change quickly. Therefore, investors should conduct their own due diligence and seek advice from financial experts before investing.