- Most investors think SOL will outperform ETH.
- 30% of investors predict Solana to triple.
- There’s rising interest in AI tokens.
Solana has seen impressive growth this year, as investors regained confidence in the token. Since the latest crypto bull run, this trend continued, amounting to a year-over-year gain of 280%. Amid this significant growth, many traders expect continued growth.
Most recently, MV Capital’s survey of venture capital and fund managers showed significant bullish sentiment for Solana. Notably, many of these investors expect Solana to continue to outperform Ethereum.
Institutional Support for Solana Remains Strong
Institutional investors are bullish on Solana. The latest MV Capital Industry Survey asked 76 industry leaders among venture capital and liquid fund allocators what their outlook on the market was. Most were bullish on Solana.
Notably, 75% of respondents stated that Solana would outperform Ethereum during the current market cycle. What is more, 30% of the respondents believe that Solana could surpass $600 in the same period, an 181% increase from its current price of $213.
The optimism over Solana is due to growing institutional interest, and improved network metrics. For instance, Solana reached record transaction volumes again in early November. Moreover, Solana’s DeFi ecosystem continues to grow, reaching $100 billion in market cap.
Bitcoin Sentiment Remains Conservative
The same survey by MV Capital also gauged investor interest in other crypto. Notably, this includes Bitcoin, Ethereum, and growing crypto market segments like Artificial Intelligence (AI).
Surveyed investors put the Bitcoin price target at a conservative estimate, suggesting a $100,000 and $150,000 price target for this cycle. Bitcoin recently reached its all-time high of $91,765, before coming down to $87,263.
For Ethereum, currently trading at $3,077, a third of the investors expect a peak between $3,000 and $5,000. A further third predict a range of $5,000 to $7,000. Moreover, 43% of the investors also expressed a strong interest in AI tokens.
On the Flipside
- More funds are trying to take advantage of the increased institutional interest in Solana. Recently, DeFi Technologies launched another ‘MicroStrategy for Solana.’
- Solana continues to take criticism over its centralization. In October, Edward Snowden singled out Solana over its supposed centralized model to blockchain.
Why This Matters
Opinions by leading industry experts are important gauges of institutional interest. Their bullish sentiment suggests that Solana continues to maintain confidence among institutions.
Read more about Solana’s involvement with FTX:
DOJ to Seize $16M in FTX Bribes, Mostly in Solana
Read more about Bitget’s performance:
Bitget Sees Record Trading Volumes, Relaunches in UK
