after Solana: 1000% ready for 2023 Returning to the list of top 10 cryptocurrencies by market capitalization, it is shown against Ethereum once again. This was also driven by the fact that Solana saw its blockchain activity exceed that of Ethereum, and even generate more revenue each time. However, the one place where Ethereum continues to surpass Solana is in its market cap. Since Solana is still well below Ethereum in this category, what would the cost of one SOL be if it eventually managed to reach the market cap of ETH?
Solana with the market cap of Ethereum
Currently, Solana’s market cap is $70.3 billion, compared to Ethereum’s $315 billion at the time of writing. This means that the market capitalization of ETH is four times greater than that of SOL. It shows that SOL still has a long way to go before it can catch up with ETH, but the gap is not so wide that it is impossible, especially when it comes to cryptocurrencies.
Using data from MarketCapOfwhich compares the market cap of two cryptocurrencies and then shows what one would be to the market cap of the other, we can see how high the price of SOL would be if it reached the market cap of ETH, which is a significant price.
According to the site, if Solana’s market cap reaches $315 billion like Ethereum, its price will exceed $600. More specifically, it would be $670.83, which represents a 4.47x increase from here, or a 447% increase. This would also push it above the likes of BNB and Tether’s USDT in terms of market cap, putting it among the top 3 cryptocurrencies.
On the other side of this, if The market capitalization of Ethereum has been declining Below Solana’s market capitalization, this would cause the price to collapse to levels not seen since 2021. The site puts ETH at $587.83 with a market capitalization of $70.7 billion, representing a 77.5% collapse.
Reaching half the market cap of ETH
VacEck analysts recently commented on the controversy surrounding Solana and Ethereum, predicting how high the former could go versus the latter. Analysis Indicates that the market capitalization SOL It could be worth at least half the value of ETH, which would put it somewhere around $157 billion. In this case, the price of SOL is expected to rise above $330.
Analysts explained that this may be due to increased activity on the Solana blockchain, which has overtaken Ethereum. But one major drawback is the fact that institutional adoption of SOL has been slow. However, this does not erase the upside that still surrounds the altcoin.
Featured image created with Dall.E, chart from Tradingview.com
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