Venture capitalist Chris Burniske says that one red-hot Ethereum (ETH) rival that has surged over 1,000% this year is primed to hit new all-time highs (ATHs).
In a new thread, the co-founder of New York-based venture capitalist firm Placeholder Capital tells his 270,500 followers on the social media platform X that 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 its all-time high of 0.06 ETH worth $136.
“SOL/ETH moving so fast I forgot to post about 0.04 [ETH]; now knocking on the door of 0.05 [ETH], with 0.06 [ETH] the ~ATH (thus far) to follow.”
In November, Burniske predicted that the SOL/ETH pair reaching 0.21 ETH worth $477 is in the realm of possibility. At the time, he said it was too early to definitively make such a call.
“0.06 [ETH] is [a] prior wick…
0.1 [ETH] to 0.2 [ETH] seems like a comfy range to watch ~0.21 SOL/ETH is the current parity – too early to call for that, but should be entertained as a possibility.”
But with SOL rallying in the past few months, Burniske now says that he stands by his prediction, indicating that a fresh all-time high is in the cards for Solana.
Solana is trading for $110.40 at time of writing, a staggering rise of over 1,000% since the start of the year when it was moving for $9.99. Back then, SOL/ETH was priced at 0.00834 ETH worth $18.96.
Even with Solana’s bullish price action as of late, it remains over 56% down from its all-time high of $259.96.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/TadashiArt
The post Ethereum Competitor That’s Exploded 1,000%+ This Year Eyeing New All-Time High, According to Venture Capitalist appeared first on The Daily Hodl.