Bitcoin OG Who Called $1 BTC Now Predicts Solana Will Soar Past $1,000
Davinci Jeremie, the early Bitcoin advocate who famously urged people to buy BTC when it was just $1 over a decade ago, has set his sights on another cryptocurrency.
In a recent YouTube video, Jeremie predicted that Solana (SOL), a leading smart contract platform, could surge past $1,200 in the coming months, riding on strong fundamentals and market trends.
Jeremies prediction is grounded in Solanas growing dominance in the decentralized finance (DeFi) space. He highlighted Solanas impressive performance, driving 45% of on-chain decentralized exchange (DEX) volume across hundreds of blockchains.
Notably, in November alone, decentralized exchange (DEX) trading volumes on the Solana network surpassed a staggering $109.8 billion, nearly double Ethereums $55.3 billion during the same period, according to data from DeFi Llama. This remarkable achievement underscores Solanas increasing adoption and utility, especially compared to other major blockchain networks like Ethereum, Binance Smart Chain, and Cardano.
The numbers dont lie, Jeremie said, emphasizing Solanas ability to capture a significant share of the market despite competition. Its crazy to think that Solana, in such a short time, has achieved this level of dominance. With these fundamentals, $1,200 might actually be conservative.
Jeremie also attributed part of Solanas bullish outlook to the potential launch of a spot Solana exchange-traded fund (ETF). With major players like VanEck filing for Solana ETFs earlier this year, Jeremie believes approval could come as early as Q1 2025. He said such a move would bring institutional money into the ecosystem, driving further price appreciation.
The crypto millionaire further acknowledged the current speculative nature of the crypto market, with many investors chasing high-risk meme coins. However, he cautioned against ignoring projects with long-term potential like Solana. Meme coins are fun, but when the dust settles, people will flock to reliable projects that are here to stay. Solana is one of those projects, he said.
Now based in Dubai, Jeremie is renowned for his uncanny ability to foresee market trends. His legendary 2013 plea for viewers to invest just $1 in Bitcoin has become one of the most compelling I told you so success stories in the crypto world. With Bitcoin currently trading at around $95,526, those who acted on his advice have seen an incredible 9,552,500% return on each Bitcoin purchased at that time.
Notably, Jeremie is not alone in predicting soaring prices for Solana. Last week, renowned technical analyst and Factor LLC head Peter Brandt suggested that Solana could surge over 2,600%, potentially reaching around $4,500 if a classic cup and handle pattern plays out on its charts.
At press time, Solana is trading around $241, reflecting a modest gain of about 2.60% in the past 24 hours. Notably, over the past month, the coin has surged by just over 36%.
Read more: https://zycrypto.com/bitcoin-og-who-called-1-btc-now-predicts-solana-will-soar-past-1000/
Text source: ZyCrypto
