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Solana price could fall 40% to $80, analyst says
Solana could fall to a price of $80 as institutional ETFs and meme coin trading slow down.
Cryptocurrency expert Andrew Kang, co-founder of a venture capital firm focused on cryptocurrencies, suggested this in a recent article send that market changes in ETF integration could slow Solana’s (SOL) bullish sentiment.
Kang believes that Solana (SOL) has shown strong performance recently, but may be affected by unpredictable demand from meme traders. If meme trading declines in the future, SOL price could collapse to the $80 level.
Kang also said that despite the potential impact of meme traders, the underlying technology and long-term potential Solana could sustain its price in the future.
ETF integration
Kang argued that the delayed integration of ETFs into asset management platforms could have a significant impact on the cryptocurrency market. Most of the expected inflow of ETF money happens now projected arrive in the fourth quarter or towards the end of the year.
In the absence of substantial ETF inflows, momentum in the cryptocurrency market could reverse from bullish to bearish. However, Kang believes that Bitcoin (Bitcoin) will maintain its strength, with prices unlikely to fall below the $50,000 mark.
Ethereum expectations
Ethereum (ET) could sustain its value until the ETF is approved, but its upside is expected to be limited to $4,000 this year, according to Kang. If there is not sufficient inflow and the numbers are not up to par, or if there is substantial selling of ETH, ETH could fall into the low to mid $2,000 range.
The Ethereum community is often considered to have strong advocacy and understanding, which can lead to high expectations about the impact of ETFs among investors who are unfamiliar with cryptocurrencies. However, the insights of traditional finance experts indicate this relatively low interest in Ethereum ETFs.