Following the Solana 1,000% run in 2023 and re-entering the crypto top 10 by market cap, it was thrown against Ethereum again. This was driven forward by the fact that Solana saw his blockchain work surpass Ethereum, and even brought in more money in time. However, one area where Ethereum continues to outpace Solana is in its marketplace. Since Solana is still below Ethereum at this stage, how much will SOL be worth if it finally manages to reach the ETH market cap?
Solana With Ethereum’s Market Cap
Currently, Solana’s market cap sits at $70.3 billion, compared to Ethereum’s $315 billion at the time of writing. This means that the market cap of ETH is four times larger than that of SOL. It shows that SOL still has a ways to go before it can catch up with ETH, but the gap is not so wide that it is impossible, especially when it comes to cryptocurrencies.
Using data from MarketCapOf, which compares the market cap of two cryptocurrencies and shows what one would be at the market peak of the other, we can see how high the price of SOL would be if it could get the market cap of ETH, and it is huge.
According to the website, if Solana’s market cap will touch $315 billion like Ethereum, its price will fall by $600. Specifically, it would be $670.83, which is a 4.47x increase from here, or a 447% increase . This will also push it above the likes of BNB and Tether’s USDT in terms of market cap, making it a top 3 cryptocurrency.
On the other hand, if Ethereum’s market cap falls below Solana’s market cap, it will send the price down to unprecedented levels since 2021. The website puts ETH at $587.83 in a market of 70.7 billion, which would be a crash of 77.5%.
Access to the Market Share of the ETH Market
VacEck analysts recently entered Solana’s debate with Ethereum, predicting how the former would face the latter. The analysis suggests that the SOL market can reach at least half of that of ETH, which would put it somewhere around $157 billion. In this case, the price of SOL will be expected to rise above $330.
Analysts explain that this is possible due to increased activity on the Solana blockchain, which has overtaken Ethereum. One of the biggest ironies is the fact that the adoption of SOL is slow. Still, it doesn’t take away the bullishness that continues to surround the altcoin.
The featured image was created with Dall.E, a chart from Tradingview.com