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Crypto price predictions are everywhere. When it comes to asset classes, perhaps more attention is paid to price predictions than any other group.
There are good reasons for this. Fundamental analysis is simply not that easy to perform on these assets because many of them do not produce cash flows that flow back to shareholders. Rather, investors who hold these tokens are entitled to a future ecosystem and network effects created by the underlying technology. Appreciation is difficult.
So let’s explore expert opinions on where these three mega-cap tokens could be heading.
Solana (SOL-USD)
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Fifth place in terms of market capitalization, Solana (SOL USD) rose sharply in the first quarter amid an impressive surge in decentralized exchange volume. Daily spot DEX volume increased 319% to $1.5 billion, led by meme coin trading. The Solana ecosystem saw increased activity, launching new projects and attracting interest from developers. Top pairs such as SLERF-SOL and WIF-SOL dominated trading.
Additionally, the DeFi sector is expected to grow $26 billion in 2024. This offers Solana significant opportunities in Web 3.0. In fact, the market cap has a lot of room to rise. With upcoming developments like Firedancer and Runtime v2, Solana wants to further improve its scalability and network speed. And this could theoretically achieve speeds of more than a million transactions per second.
These improvements could lead to a Solana price between $260 and $600 per token in the long term.
Bitcoin (BTC USD)
Bitcoin (BTC USD) Maxis had reason to celebrate this year. The world’s largest cryptocurrency continues to trade above the $70,000 mark. And there is a lot of excitement surrounding this project ahead of the upcoming halving.
The recent launch of Bitcoin spot ETFs has resulted in significant capital inflows into this asset. Accordingly, many investors and analysts expect that there will be significant upside potential in the coming years.
As long as ongoing supply and demand distortions remain the status quo for Bitcoin, there is really only one direction for this token: up. I expect this to happen unless there is some sort of market shock. And with ordinal volumes rising and a post-halving surge expected, there are a number of catalysts for investors to focus on moving forward.
Finally, analysts expect a rise above $100,000 and into the $180,000 range. Some experts also see a possible price target of up to $300,000 next year.
Ethereum (ETH-USD)
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ether‘S (ETH-USD) The impressive growth since its inception is remarkable. Notably, it has actually outperformed Bitcoin during this particular period. A similar price move could see the price of Ethereum quadruple by 2025 if historical patterns hold.
Such a move would result in a price of around $15,000 per token next year. That would be three times the token’s previous all-time high and would give Ethereum a market capitalization of over $2 trillion.
I’m not saying it’s out of the question, as Bitcoin has approached these levels in the past. However, it is clear that a number of catalysts need to align for Ethereum to receive this type of valuation. Continued improvements from upgrades and a surge in demand following the hopeful approval of spot Ethereum ETFs by regulators are two key catalysts to watch going forward.
At the time of publication, Chris MacDonald did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.
