Crypto price predictions are everywhere. For asset classes, more attention is paid to price forecasts than perhaps among any other group.
Good reasons support that. Fundamental analysis simply isn’t as easy to conduct on these assets, many of which don’t create cash flows that flow back to shareholders. Rather, investors holding these tokens have a claim to a future ecosystem and network effects created by the underlying technology. Valuing is difficult.
And so, let’s explore expert opinions of where these three mega-cap tokens could be headed.
Solana (SOL-USD)
Ranked fifth in terms of market cap, Solana (SOL-USD) surged in Q1 amid an impressive increase in its decentralized exchange volume. Daily spot DEX volume rose 319% to $1.5 billion, led by meme coin trades. The Solana ecosystem saw increased activity, launching new projects and drawing developer interest. Top pairs like SLERF-SOL and WIF-SOL dominated trades.
Furthermore, the DeFi sector is projected to grow to $26 billion in 2024. This presents significant opportunities for Solana in Web 3.0. In fact, its market cap has plenty of room to run higher. With upcoming developments like Firedancer and Runtime v2, Solana aims to enhance its scalability and network speed further. And this could potentially achieve theoretical speeds of more than a million transactions per second.
These improvements could lead to a Solana price ranging between $260 and $600 per token long term.
Bitcoin (BTC-USD)
Bitcoin (BTC-USD) maxis have had reason to cheer this year. The world’s largest cryptocurrency continues to trade above the $70,000 level. And plenty of excitement surrounds this project ahead of its upcoming halving event.
The recent launch of Bitcoin spot ETFs has attracted significant capital flows to this asset. Accordingly, many investors and analysts expect to see big upside on the horizon in the years to come.
So long as continued supply and demand dislocations remain the status quo for Bitcoin, there’s really only one direction for this token to go – higher. Unless we see some sort of market shock, that’s what I expect to happen. And, with Ordinals volumes picking up and a post-halving surge expected, there are a number of catalysts for investors to focus upon moving forward.
Finally, analysts expect a surge past $100,000 to the $180,000 range. Also, some experts see a possible price target as high as $300,000 over the next year.
Ethereum (ETH-USD)
Ethereum‘s (ETH-USD) impressive growth since its inception is notable. Specifically, it has actually outperformed Bitcoin over this particular time frame. A similar price move could see Ethereum surge four-fold by 2025, if historical patterns hold.
Such a move would lead to a price of around $15,000 per token over the next year. That would be triple the token’s previous all-time high, and provide Ethereum with a market capitalization of over $2 trillion.
Now, I’m not saying that’s out of the question, as Bitcoin has approached those levels in the past. But it’s clear a number of catalysts will need to align for Ethereum to see this sort of valuation. Continued improvements via upgrades and a demand surge following the hopeful approval of spot Ethereum ETFs by regulators are two key catalysts to watch moving forward.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
