SOL’s Path to $600 as Altcoins Gain Momentum in 2024 Market

Nearly all high cryptocurrencies have proven progress over the previous seven days. Some cryptos have even outperformed Bitcoin. Solana has posted a acquire of 34.7% – far above BTC’s seven-day acquire of 28.1%. Solana’s worth now stands at $217.71. MV World’s This autumn 2024 Crypto Funding Supervisor Survey reveals that SOL worth may attain round $600 on this bull cycle. Let’s analyze what the analysis report displays in depth.

Solana’s $600 potential within the bull cycle

The Crypto Funding Supervisor survey focuses on enterprise capital and hedge fund sentiment on main cryptos within the present bull cycle. No fewer than 76 high funds participated within the examine. A minimum of 33% of respondents predict that Solana’s worth may cross the $600 mark within the present cycle. In the meantime, no less than 23.2% count on the Solana worth to achieve the $600 stage, however no additional. Nonetheless, the remaining respondents recommend that the SOL worth would stay within the $150 to $300 vary all through the forex cycle.

Solana and Ethereum are anticipated to outperform Bitcoin

Over the previous 30 days, Solana has outperformed Bitcoin (40.6%) and Ethereum (37.7%), with a acquire of 49.2%. The analysis report highlights that Solana and Ethereum might outperform Bitcoin within the present cycle, and highlights SOL’s publicity to sectors akin to DePIN and Meme Cash.

Furthermore, no less than 75% of respondents imagine that Solana may even outperform Crypto ETFs within the present cycle.

The analysis highlights that Bitcoin’s worth may attain a excessive vary of $100,000 to $150,000 within the present cycle.

Selective Altcoin Increase in 2025

The analysis report suggests that the majority funds anticipate a restricted altcoin season with a give attention to particular tokens. A minimum of 43% of survey respondents expressed confidence in AI-related tokens. Practically 14.3% most popular DePIN tokens.

Skepticism round meme cash, gaming and Layer-2 tokens

Practically 27.5% of survey respondents had been skeptical in regards to the progress of the gaming token sector. Equally, no less than 24.6% conveyed their disinterest in direction of Layer-2 tokens. The vast majority of survey respondents indicated they had been reluctant to extend their publicity to meme cash, demonstrating a insecurity on this asset sector. The report reveals that solely 43% have publicity to meme cash, and only some have invested greater than $10,000.

In conclusion, MV World’s analysis offers helpful insights, capturing each optimism for particular tokens, akin to AI-related tokens, and warning relating to different tokens because the market prepares for a possible peak in 2025.