Venture capitalist Chris Burniske says a red-hot Ethereum (ETH) rival, which is up more than 1,000% this year, is poised to hit new all-time highs (ATHs).
In a new thread, the co-founder of New York-based venture capitalist Placeholder Capital says tells With its 270,500 followers on social media platform X, 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 an all-time high of 0.06 ETH worth $136.
“SOL/ETH is moving so fast that I forgot to post about 0.04 [ETH]; is now knocking on the door of 0.05 [ETH]by 0.06 [ETH] the ~ATH (so far) will follow.”
In November, Burniske predicted for the SOL/ETH pair to reach a value of 0.21 ETH worth $477 is within the realm of possibility. At the time, he said it was too early to definitively make such a call.
“0.06 [ETH] is [a] previous fuse…
0.1 [ETH] to 0.2 [ETH] seems like a comfortable range to look at ~0.21 SOL/ETH is the current parity – it’s too early to make a call on that, but it should be considered a possibility.”
But with SOL rising in recent months, Burniske is now rising say that he stands by his prediction, indicating that a new all-time high is in store for Solana.
Solana is trading at $110.40 at the time of writing, a staggering increase of more than 1,000% since the beginning of the year when it was trading at $9.99. At the time, SOL/ETH cost 0.00834 ETH worth $18.96.
Even with Solana’s bullish price action lately, the price remains more than 56% off its all-time high of $259.96.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/TadashiArt
