Crypto veteran Chris Burniske reaffirms his confidence in Ethereum (ETH) rival Solana (SOL) and confirms a future price prediction despite the down market.
Late last month, Burniske, a partner at crypto firm Placeholder, said a price target of $1,000 per SOL could look “conservative” going forward.
Since his prediction, Solana has undergone a significant correction, from around $180 to $129 at the time of writing.
But Burniske say,
“That is still the case – unaffected by short-term price action.”
While double Based on his SOL prediction of $1,000, he says that when Solana was trading at $8, many said the price would drop all the way to $4. But Solana instead shot up more than 20x to the $200 level.
Burniske is also optimistic about fellow Layer-1 crypto project Celestia (TIA). The investor previously said that if people understood Celestia’s unique value proposition, they wouldn’t be too concerned about the altcoin’s current correction.
“If you lost your bullish appetite on TIA because the price dropped, you probably never dug into Celestia Org enough to begin with. The TIA is still up 2-3x from the listing week, if you bought a local top that is your responsibility, and a drawdown is an opportunity to lower the average.”
At the time of writing, TIA is trading at $4.53.
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Generated image: Midjourney
