Solana Price Prediction as Billionaire Arthur Hayes Says This Other Project Will Overtake Solana

Simon Chandler

Last updated:

June 17, 2024 10:26 EDT | 3 min read

SOL has fallen by 1.5% in the past 24 hours, with the Solana price slipping to $143.28 as the crypto market as a whole loses 1% today.

This caps a disappointing few weeks for the market’s fifth-biggest coin by cap, with SOL also down by 10% in a week and 18% in a month.

On the other hand, the alt’s medium- and long-term picture remains very good, in that it remains up by 800% in the last 12 months.

And while Arthur Hayes has recently predicted that Aptos will flip Solana over the next few years, prospects for the latter and the SOL price remain excellent.

Solana Price As Billionaire Arthur Hayes Says This Other Project Will Overtake Solana

SOL’s momentum has taken a nosedive over the past week, although the positive side of this is that it looks close to bottom out.

Its relative strength index (purple) has fallen from nearly 80 last night to almost 30 today, while it had been close to or below 50 for much of the previous week.

Source: TradingViewThe coin’s 30-day average (orange) has also been below the 200-day (blue) for nearly two weeks, and is falling again today.

Yet now would arguably be a good time to buy SOL, given how heavily the market is selling it, and given that it looks ready to rebound.

One small but encouraging sign is that its trading volume has lifted from just over $1 billion a day ago to $1.5 billion today.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,568,992 #SOL (227,838,320 USD) transferred from unknown wallet to unknown wallet

— Whale (@whale_) June 16, 2024

This could relate to a big whale purchase, with SOL remaining the second-most popular alt (after ETH) among digital funds, according to the latest CoinShares data.

This highlights Solana’s enduring appeal, and with Ethereum about to see the launch of several spot-based ETFs in the US, Solana could be next.

This would undoubtedly be massive for the Solana price, which should nonetheless climb steadily into H2 2024 even if SOL ETFs don’t immediately emerge.

However, as noted above, some experts are suggesting that other alts may overtake SOL in the next few years, with BitMex founder Artur Hayes singling out Aptos as a potential ‘Solana killer.’

BitMEX founder Arthur Hayes predicted in a video interview (38:25) that in the L1 competition, Aptos will flip Solana and become the number two L1. This will take one to three years, and he will reveal more details in September this year.

— Wu Blockchain (@WuBlockchain) June 17, 2024

Yet Solana’s recent adoption by the likes of Visa and PayPal underlines its credentials, while later months should see the coin rise with the wider market, which will be boosted by upcoming rate cuts.

The Solana price could reach $175 in the next few weeks, before climbing to $250 by the end of the year.

Solana-Based Meme Tokens for Bigger Returns

While Solana is likely to remain a big alt for the foreseeable future, traders seeking above-average returns may be better off looking to newer alts and meme tokens right now.

A handful of promising new coins are currently holding their presales, which not only provide them with much needed funding, but also help them attract followers and support as they prepare two list.

One token doing just this is Sealana (SEAL), a Solana-based meme coin that has raised over $4 million in only a few weeks.

#Sealana has got some big news for y’all today! 🦭🍻 After a long night of drinking, doin’ American $SEAL things 🇺🇸 and blacking out! 😵 He woke up with some real mental clarity and made the call that the #Presale’s gonna end on June 25th at 6 pm UTC! ⏰

You know what that… pic.twitter.com/va7W8abVjb

— Sealana (@Sealana_Token) June 6, 2024

Ending on June 25, its presale has attracted participants in the expectation that SEAL could be the next-big Solana-based meme token, following hot on the heels of WIF and BONK.

It has adopted a half-parodic countercultural seal as its meme, distinguishing itself from the hordes of dog- and cat-memes that are flooding the crypto market.

Its stylings seem to be having the desired effect, with the coin’s official X account now boasts over 11,000 followers, a clear sign of its growing popularity.

Investors can join the rapidly expanding SEAL team by going to the official Sealana website, where 1 SEAL costs $0.022.

This is its final presale price, with its hugely successful presale suggesting that it could surge once it lists on exchanges and trading platforms in just over a week.

Buy SEAL Today

Follow Us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.