Analytics

Solana and Sei Show Strong Correlation as Both Prices Surge

Jake Gagain, a crypto YouTuber, has recently projected an ambitious future for Solana (SOL), forecasting the token’s surge to $750. This prediction, shared via an X post, comes with a rationale deeply rooted in Solana’s growing technological advantages and market presence.

Solana’s Recovery Post-FTX Scandal

Central to Gagain’s optimism is Solana’s robust recovery from the FTX scandal. Despite the market turmoil and its price plummeting below $10, SOL bounced back impressively, breaking the $100 mark by the end of the year. Gagain attributes this resilience to Solana’s strengths, notably its faster, safer, and more cost-effective network than competitors like Ethereum.

At press time, SOL exchanged hands at $102.21, a 5.21% surge from the intra-day low and a 40% surge in the last month.

SOL/USD 24-hour price chart (source: CoinStats)

Moreover, the crypto influencer noted Solana’s increasing integration into traditional markets, as seen through partnerships with prominent brands such as Shopify. This venture into mainstream markets is expected to drive user growth and activity within the Solana ecosystem, according to Gagain.

Sei Network’s Performance

In parallel, the Sei Network’s native token, SEI, is also making headlines, showcasing a remarkable 237% gain over the past month. According to crypto trader cryptodude999, SEI’s breakout and upward trajectory signal bullish market sentiment.

If SEI sustains its momentum and surpasses the key resistance level of $0.7891, it could reach new highs, breaching the psychologically significant $1 mark. At press time, SEI was trading at $0.8013, a 1.01% surge from the day’s low.

SEI/USD 24-hour price chart (source: CoinStats)

In addition, an interesting comparison arises when looking at the transaction milestones of both Solana and Sei. While Solana has recorded 261 billion transactions, SEI recently surpassed 1 billion. Historically, when Solana hit its first billion transactions, its price was $3. This parallel draws attention to the potential growth trajectory for SEI.

However, Cryptodude999, while cautious of potential pullbacks, suggests that a support zone around $0.63 could provide a safety net, allowing for strategic accumulations during dips.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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