Solana has continued to outpace the market after surging 19% and surpassing $110 today. Will this rally continue, or is Solana poised to cool down while other altcoins surge?
One formidable candidate looking to follow in Solana’s footsteps is Bitcoin Minetrix. The project is currently undergoing a presale quickly approaching $6 million total raised.
Traders Remain Short and Long-Term Bullish on SOL
Solana has climbed a staggering 56% this week, 96% this month and 911% this year. Currently, it is trading at $113, its highest price since April 2022.
It has also significantly outpaced other cryptocurrencies, rising to the fourth spot of cryptos by market cap. This has even drawn some analysts to predict it could flip Ethereum in the coming bull market.
One of those is MartyParty, speculating, “Solana will flip Ethereum sooner than you think… Anyone not moving some $ETH into $SOL under $100 is either delusional, emotional or you are locked in this ridiculous Ethereum staking protocol.”
MartyParty then references on-chain data, including daily active addresses, daily transactions, TVL, and DEX volume, to support his thesis.
Meanwhile, other analysts are offering tangible price predictions for where Solana could be headed.
Kaz The Shadow has set two short-term price targets of $122 and $143.
The trader noted a bull flag formation on the hourly price chart. Since publishing the trade idea, Solana has climbed over 10% but still has more room for growth.
However, Solana’s explosive price action has also attracted exciting long-term predictions. Analyst Cryptoknight believes Solana is headed to $400. The trader initially published a tweet in October when SOL was priced at $26, but updated today highlighting the coin’s notable progress.
Another prominent analyst who is long-term bullish on Solana is notEezzy. A recent tweet explained, “Bought 1k $SOL and throwing it into my Ledger utill next year adding it alongside my longterm $ETH bag as well.” notEezzy also implied that Solana would reach $1000 in the coming cycle.
However, some traders think $1000 forecasts may overestimate Solana’s potential.
Analyst Sarah believes that Solana could reach highs of $400 “if the market sentiment is decent” but does not expect it to overperform compared to previous cycles.
So, while the future undoubtedly looks bright for Solana, other cryptos may be poised for more explosive gains in the coming months.
One is Bitcoin Minetrix, a trending presale backed to 100x by a top analyst.
Stake-to-Mine Bitcoin Minetrix Set to Explode After Raising $5.9M
Bitcoin Minetrix is a new cryptocurrency enabling users to cloud mine Bitcoin from an Ethereum-based wallet. The project is currently undergoing a presale, meaning buyers can get in at a discounted rate before it launches on exchanges.
So far, the presale has raised over $5.9 million and received backing from numerous prominent analysts. One of those is OnlineHustleTV, speculating that “this new token could do a 100x in a few months.”
The project is also backed by top media outlets, with Business Insider, Cointelegraph, Cryptopotato, and Bitcoin Magazine already endorsing it.
Ultimately, its notable early success is due to its pioneering use case, moving Bitcoin mining towards mass adoption. The platform works by users staking $BTCMTX for Bitcoin mining credits, which they can burn for cloud mining power, translating to free Bitcoin.
No technical expertise or expensive hardware is required, and the decentralized and transparent $BTCMTX token eradicates the risk of cloud mining scams.
Another exciting factor of Bitcoin Minetrix is that since users will earn BTC rewards, the project’s value could explode as the Bitcoin price rises. Given the upcoming Bitcoin halving and ETF approvals, this could make Bitcoin Minetrix a higher upside alternative play to BTC.