Venture capitalist Chris Burniske, who accurately predicted the 2022 cryptocurrency low, has spotlighted Ethereum competitor Solana as a likely frontrunner in the next cryptocurrency market expansion. Burniske, with a considerable social media following of 263k, commends Solana’s potential to exceed Ethereum during the next significant movement in cryptocurrency markets.
Burniske’s predictions derive from the SOL/ETH pair’s recent performances. He explains that Solana has regained its footing at the 0.01 ETH level and is potentially on course to reach 0.02 ETH in the upcoming cycle.
However, Burniske clarifies his bullish outlook on Solana does not mean he discredits Ethereum; instead, he remains optimistic about both. He compares this perspective with holding Bitcoin and Ethereum concurrently, embracing their distinct risks and visions.
Burniske further attributes Solana’s revival to its quieter product launches, enhanced functionality, reduced fees, and increased throughput. These elements signal the start of a new product cycle “coming to life from the ashes”. Despite its 92.5% drop from its $259.24 all-time high in November 2021 to just $19.45, these elements could predict a promising future for Solana.