According to crypto specialist Andrew Kang, Solana (SOL) is headed for a big price decline, maybe dropping 40% to the $80 mark. Kang, co-founder of a venture financing firm focused on cryptocurrencies, notes this possible drop in market dynamics, especially in relation to institutional ETFs and the volatility of meme coin trading.
According to a recent study, Solana still depends on changes in meme trader demand even if it has shown good performance. Should the excitement over meme currencies wain, Solana’s value might suffer.
“Solana’s basic technology and long-term potential are solid, but in the short term, it could suffer from a decline in meme trading,” Kang said.
Kang also mentioned the delayed incorporation of ETFs into wealth management systems as a crucial element influencing Solana’s price trajectory. Originally meant to drive the bitcoin market, the expected influx of ETF funds will now be in the fourth quarter or later this year.
Without this significant ETF flow, Kang advises that the positive momentum in the bitcoin market could turn around, affecting several digital assets, including Solana. He is more positive about Bitcoin (BTC), believing it will keep its value and not fall below $50,000.
Solana’s Potential Decline and Ethereum’s Prospects Amid ETF Delays
Turning to Ethereum (ETH), Kang sees the coin’s worth held until ETF approvals arrive. He moderates expectations, though, forecasting Ethereum’s upside to be restricted to the low $4,000s this year. Should inflows disappoint or notable selling occur, Ethereum’s price might drop to the low to mid $2,000 range.
Kang pointed out that the Ethereum community, known for its strong advocacy and empathy, would have high hopes for ETF’s influence. Still, observations from seasoned financial professionals point to a modest demand for Ethereum ETFs.
Macroeconomic conditions and particular events inside the crypto ecosystem still shape the larger Bitcoin market. Investors are intensely observing developments in ETF integration and meme coin trading, which may influence short-term price swings for assets such as Solana and Ethereum.
Kang’s study reminds us of the volatility of cryptocurrency investments and the need to keep educated on market dynamics as the market negotiates these changes.
