Recently, Solana (SOL) has attracted the attention of crypto investors, especially following statements from Mert Mumtaz, founder of Helius Labs, who predicted that SOL could outperform Bitcoin (BTC) in returns over the next 12 months.
Advantages of Solana
Mert Mumtaz claims that Solana stands out among other cryptocurrencies due to a high level of talent within its development team, a balanced interest from retail and institutional investors, and upcoming improvements in the network. According to him, SOL could reach $500 by 2025.
Competition with Bitcoin and Ethereum
Kyle Samani, a partner at MultiCoin Capital, also expresses confidence that SOL could surpass both Ethereum and Bitcoin. He highlights SOL's advantages in transaction speed and low gas costs, making it competitive for the future. Despite these positive outlooks, Solana is struggling to maintain a price above $100.
Market Optimism and Predictions
According to some market participants, there is only a 17% chance that SOL will reach a new all-time high before 2026. Most analysts expect Bitcoin to reclaim its all-time high in 2025, indicating a more optimistic sentiment towards BTC. However, the SOL/BTC ratio, which tracks SOL's relative price performance to BTC, is heading towards a key support level, which might allow SOL to regain over 50% of its lost ground against BTC.
Despite optimistic predictions for Solana by several experts, overall market expectations remain cautious. Time will tell if SOL can realize its ambitions amid competition with Bitcoin and Ethereum.
