|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Alex Kruger: Solana Will Flip Ethereum's Market Cap, SOL/ETH Pair Is a Long-Term Bullish Trade
Oct 24, 2024 at 06:25 pm
Seasoned market pundit and Asgard Market’s partner Alex Kruger has asserted that altcoins like Ethereum and Solana are the trades to take in the case
Seasoned market pundit and Asgard Market’s partner Alex Kruger has asserted that altcoins like Ethereum and Solana are the trades to take in the case of a Donald Trump win.
Speaking at the Bits and Bips podcast, the popular economist noted that the “Trump trade” is not Bitcoin but altcoins. He sees Solana and Ethereum outperforming crypto’s firstborn, Bitcoin, if the Republican nominee wins the November election.
Solana, Ethereum to Thrive Under Trump?
Popular market consensus believes that crypto would do better under Trump than with Democratic candidate Kamala Harris. Brokerage firm Bernstein predicted that Bitcoin would trade at $90,000 if pro-crypto Trump wins and $30,000 if Harris emerges victorious.
With that established, Kruger believes that altcoins will outpace Bitcoin’s strides with Trump’s win. He noted that he would prefer to bet on Solana and Ethereum over the largest crypto asset by market cap.
Notably, the duo has performed differently in the current market scenario following Bitcoin’s short-lived push to $69,000. For context, Bitcoin has outperformed Ethereum, with the ETH/BTC pair hitting a 42-month low of 0.03772.
Also, Bitcoin has grown 5.10% in the past month, while Ether has performed conversely with a 4.62% depreciation.
However, Solana has mirrored Kruger’s assertions, outgrowing Bitcoin substantially. The fifth-largest crypto asset has outperformed Bitcoin’s monthly performance by three folds, with its latest surge above $170.
It bears mentioning that Standard Chartered’s head of digital asset research, Geoff Kendrick, shares a correlating assertion with the Asgard partner. The market expert predicted Solana and Ethereum would outgrow Bitcoin if Trump wins.
Kendrick speculated a fivefold surge in Solana, a fourfold uptick in Ethereum, and twofold returns for Bitcoin. Notably, he expects the likely approval of the Solana spot exchange-traded funds under Trump to catalyze the asset’s fivefold bullish uptrend.
Kruger Says Solana Will Flip Ethereum’s Market Cap
Kruger, on the other hand, recently asserted that Solana would flip Ethereum’s market cap in the near future. In another Bits and Bips episode, he noted that he is long-term bullish on the SOL/ETH pair.
The market expert also noted that Solana has all it takes to overtake Ethereum, and he believes in its possibility. He said that Solana has “nothing to prove“ and has “everything they need to make it happen.”
To put things into perspective, half of Ethereum's current market cap is $151 billion, a 75% uptick from Solana's $86 billion. Notably, a surge of that magnitude will push Solana to $300 per coin.
DisC. This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Ethereum Whale Deposits 3,000 ETH After Dormant Period
- Oct 24, 2024 at 10:25 pm
- Reports from Spot on Chain indicate that an Ethereum ICO participant finally made a deposit to the cryptocurrency exchange Kraken after over four months of dormancy. The deposit was 3,000 ETH, or $7.63 million, Coingape shares.