Venture capitalist Chris Burniske says that one red-hot Ethereum (ETH) rival that has surged over 1,000% this year is primed to hit new all-time highs (ATHs).
In a new thread, the co-founder of New York-based venture capitalist firm Placeholder Capital tells his 270,500 followers on the social media platform X that smart contract platform Solana (SOL) appears to be gaining ground against Ethereum (SOL/ETH).
According to the crypto investor, he sees the SOL/ETH pair rising to its all-time high of 0.06 ETH worth $136.
“SOL/ETH moving so fast I forgot to post about 0.04 [ETH]; now knocking on the door of 0.05 [ETH], with 0.06 [ETH] the ~ATH (thus far) to follow.”
In November, Burniske predicted that the SOL/ETH pair reaching 0.21 ETH worth $477 is in the realm of possibility. At the time, he said it was too early to definitively make such a call.
“0.06 [ETH] is [a] prior wick…
0.1 [ETH] to 0.2 [ETH] seems like a comfy range to watch ~0.21 SOL/ETH is the current parity – too early to call for that, but should be entertained as a possibility.”
But with SOL rallying in the past few months, Burniske now says that he stands by his prediction, indicating that a fresh all-time high is in the cards for Solana.
Solana is trading for $110.40 at time of writing, a staggering rise of over 1,000% since the start of the year when it was moving for $9.99. Back then, SOL/ETH was priced at 0.00834 ETH worth $18.96.
Even with Solana’s bullish price action as of late, it remains over 56% down from its all-time high of $259.96.
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