Kraken, one of the largest cryptocurrency exchanges in the USA, made a very important statement to Solana (SOL), one of the biggest competitors of Ethereum. The research unit of Kraken cryptocurrency exchange stated that ETH rival SOL is preparing for a very important rally in the coming months. According to Kraken researchers, in the first quarter of 2022, Solana could set a new record and settle just below Ethereum.
SOL Will Approach Ethereum
kraken, Solana’s He emphasized that since the beginning of 2020, it has been constantly rising and has gained an important place. According to the crypto exchange, Solana’s decline, which started from a record $ 260 a short time ago, can be seen as a preparation for a new rally.
“One of the biggest cryptocurrencies, Solana, is in the early stages of the fourth wave of the ‘price discovery’ phase. Accordingly, we may see a new uptrend in the fourth wave of price discovery and the wedge pattern may be broken.”
Kraken researchers stated that the recent drop in Solana price is definitely positive and a serious rally from the $170 support is possible. It is stated that this increase can go up to the 255% level, which corresponds to $ 425 and above.
Having a market value of 52 billion dollars as of now, the market value that SOL will reach after such an increase will be over 125 billion dollars. Binance Coin seems to have a market cap of $95 billion as of now, and SOL may surpass even that with its new rise.
*Not investment advice.