Venture capitalist Chris Burniske believes Solana (SOL) could rise to a four-figure price this market cycle.
The former head of crypto at ARK Invest tells his 296,900 followers on social media platform X said a $1,000 price target for Solana could be “conservative.”
Burniske’s huge price target for Solana comes after a poll on X showed investors on the platform are overweight SOL. Earlier this week, Burniske asked are followers of three, what is their largest asset: Bitcoin (BTC), Ethereum (ETH) or Solana?
The survey, which received 21,945 votes, shows that 35.4% are overweight SOL, followed by Bitcoin at 22.9% and Ethereum at 19.9%.
According to Burniske, Solana is the top choice of thousands of investors among large-cap coins suggests that SOL has the potential to be extremely popular with newcomers to the market.
“What’s interesting about these results so far is that I see CX (crypto-X) as the gathering place for crypto converts, which then spreads to the masses and capital allocators.
CX is overweight. SOL tells me there is much more virus spread ahead.”
At the time of writing, Solana is trading at $178.
Burniske is also optimistic about fellow Layer-1 crypto project Celestia (TIA). The investor say 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 dived into Celestia Org enough to start 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 $5.48, down more than 73% from the all-time high of $20.85 it reached in February this year.
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Generated image: Midjourney