Venture capitalist Chris Burniske believes Solana (SOL) can soar to a four-figure price this market cycle.
The former head of crypto at ARK Invest tells his 296,900 followers on the social media platform X that a bull market price target of $1,000 for Solana could be “conservative.”
Burniske’s massive price target for Solana comes as a poll he ran on X showed that investors on the platform are overweight on SOL. Earlier this week, Burniske asked his followers that of three, what’s their biggest holding: Bitcoin (BTC), Ethereum (ETH) or Solana?
The survey, which had 21,945 votes, shows that 35.4% are overweight on SOL, followed by Bitcoin at 22.9% and Ethereum at 19.9%.
According to Burniske, Solana being the top pick of thousands of investors among large-cap coins suggests that SOL has the potential to be tremendously popular to new market entrants.
“What’s interesting about these results so far is I see CX (crypto-X) as the gathering place for crypto-proselytizers, which then spreads to the masses & capital allocators.
CX being overweight SOL tells me a lot more virus spreading is ahead.”
At time of writing, Solana is trading for $178.
Burniske is also bullish on fellow layer-1 crypto project Celestia (TIA). The investor says that if people understood Celestia’s unique value proposition, they wouldn’t be too concerned with the altcoin’s current correction.
“If you lost your bullish appetite on TIA because the price went down, you probably never dove into Celestia Org enough to begin with. TIA is still up 2-3x from the listing week, if you bought a local top that’s your responsibility, and a drawdown is an opportunity to average down.”
At time of writing, TIA is trading for $5.48, down over 73% from its all-time high of $20.85 which it hit in February of this year.
Generated Image: Midjourney