After a turbulent start to the year for digital assets, one analyst has speculated that Solana (SOL) could be in-line for 50x gains in 2024 – mirroring the trajectory that enabled Ethereum (ETH) to reach 50x returns in 2018. Solana ended the year 2023 on a positive outlook and with the ever-growing popularity of Ethereum alternatives resurfacing – this ‘Ethereum killer’ could be on the rise. However, some obstacles and sustainability issues tied to the token/ecosystem may prevent serious bullish reinforceemnt.
Analyst (Redacted) observes that “if we take a look at the two charts, Solana may be following ETH’s trajectory from 2018. ETH did an impressive 47x during that time period, so it’s not too biased to say that SOL could do the same – if conceived and utilised. Subsequently, GRIN believes that traders preparing themselves for express alt-season growth is an expression of faith in the Ethereum alternative. In 2021, the market cap for SOL touched $75 billion USD which would have to be achieved once more before hitting the ATH mark appear realistically achievable – showcasing a greater hurdle than previously imagined.
