Top Ethereum Rival May Explode 100% to Beat Other Large-Cap Altcoins, According to Coin Bureau – Here’s Why

A popular analyst known for his deep-dive research lays out what could be on the horizon for a top Ethereum (ETH) contender.

In a new strategy session, the pseudonymous host of Coin Bureau known as Guy tells his 2.09 million YouTube subscribers that he thinks the layer-1 protocol Solana (SOL) could double in price if the broader altcoin rally keeps rolling.

“SOL’s price campaign also looks interesting from several angles. In terms of crude price action, SOL could potentially pull a 2x if the current mining rally continues. This doesn’t sound like much, but if the rally continues, it will be a bigger percentage gain than other major altcoins.

That is why there is some legitimacy [FTX CEO] Sam Bankman-Fried’s remark that Solana is underrated. There is some more evidence to suggest that SOL could see a serious rebound if the current momentum in the crypto market continues.”

The analyst also discusses Ethereum’s transition to a proof-of-stake (PoS) consensus mechanism scheduled for mid-September. He believes the prospect of failure or outright failure is sparking interest in several other ETH rivals, including Avalanche (AVAX) and NEAR Protocol (NEAR).

“Some of you may have noticed that Solana, Avalanche, Near Protocol and other so-called Ethereum killers have been gathering as the merger approaches. This is no coincidence as there are many traders who are probably trying to hedge their portfolios in case something goes horribly wrong with the merger.”

Guy concludes by examining SOL’s price on the ETH trading pair, observing that Solana appears to be following a pattern of troughs and waves where a peak may coincide with the upcoming Ethereum merger.

“Take a look at the SOL versus ETH chart on the weekly. Do you notice anything? Call me crazy, but I see a pattern where SOL loses value against ETH for about five to six weeks at a time, before I see a one- to-three-week rally against ETH.

It’s been six weeks of decline, and with the merger less than a month away, we could see another multi-week rally against ETH, all while ETH is simultaneously increasing in value against BTC [Bitcoin], and hopefully in fiat terms as well. This will translate into the 2x gain for SOL I mentioned.”

At the time of writing, Solana is down 4.57% and is trading at $38.67. With Ethereum priced at $1.821, SOL is currently equivalent to 0.02123 ETH.

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Featured image: Shutterstock/Vadim Sadovski/solvertv

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