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Top Analyst Names 3 Conditions For Cardano To Flip Solana
Amid growing uncertainty, a top analyst has named three scenarios that could cause Cardano (ADA) to outperform Solana (SOL). The projection from the analyst AM_Panic comes as the broader cryptocurrency sector witnesses a massive downturn spearheaded by Bitcoin (BTC).
3 Scenarios Favoring Cardano Over Solana
The analyst began by acknowledging Cardano’s accelerated growth, including plans to enhance its scalability. He noted on X that a potential ADA price surge largely depends on Cardano’s capacity to implement its scalability plans.
Should the network achieve this feat, it may attract more Decentralized Applications (dApps), which will benefit the blockchain and help it outrank Solana.
In the second scenario, the analyst expects that any setback or regulatory challenge to the Solana network will negatively impact its price. If it records a 20% price dip, this would affect its market cap, which is currently at $50.11 billion. A 20% fall can raise the market cap to $50.11 billion, making it easier for Cardano to meet continued growth.
The last scenario is tied to favorable market conditions. Once there are either bullish crypto trends or more regulatory clarity, especially with Donald Trump as President, Cardano may benefit more. The market analyst believes the Layer-1 blockchain is even better if positioned as a stable, research-driven alternative.
The Solana Memecoin Woes
In recent weeks, Solana has faced several woes, ranging from a slowdown in token growth within its network to its price drawdown.
Solana Powerhouse Pump.Fun, known as the source of the ecosystem boom over the past few months, has recorded a slowdown in adoption. From abuse by creators to a shift from risk-on assets amid the global stock market meltdown, Solana’s price has experienced more drawbacks.
Most critics also warn that Solana is sacrificing decentralization for speed, fueling boycott concerns in the long term.
Price Outlook for Cardano and Solana
The ADA price is $0.7302 after recording a 24-hour price gain of 6.52%. SOL trades at $127.62, corresponding to a 7.31% increase within the last 24 hours.
Notably, several analysts are optimistic that the coin will see better days. Market analyst Crypto Jobs, in SOL price analysis, shows how the coin fluctuated between $153 and $138, suggesting a season of indecision in the crypto market.
While analysts have predicted that the coin’s price may hit $200 soon and even reach higher levels, there are at least three reasons why it may not attain this level in March. Similarly, Cardano’s price faces selling pressure in a descending triangle and recently tested support at $0.76.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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