The cryptocurrency market has witnessed a remarkable surge over the past week, with several top digital currencies experiencing significant growth. Some cryptocurrencies have even managed to outperform Bitcoin, capturing the attention of investors and analysts alike. Among these digital assets, Solana stands out with an impressive gain of 34.7%, surpassing Bitcoin’s 7-day increase of 28.1%. As a result, Solana’s price currently stands at $217.71. According to the Q4 2024 Crypto Investment Manager Survey by MV Global, there is a strong belief that Solana’s price may reach an astonishing $600 in this bull cycle. In this article, we’ll dive into the survey’s findings and explore the potential future of Solana.
Solana’s $600 Potential in the Bull Cycle
The Crypto Investment Manager Survey sheds light on the sentiments of venture capitalists and hedge funds regarding key cryptocurrencies in the current bull cycle. A total of 76 prominent funds took part in this survey, offering valuable perspectives on the market. Notably, 33% of respondents are optimistic that Solana’s price could surpass the $600 mark during this cycle. Meanwhile, 23.2% of participants expect Solana to reach $600 but not exceed it. However, a portion of respondents believes that Solana’s price will stay within the range of $150 to $300 in the current cycle.
Solana and Ethereum Expected to Outperform Bitcoin
Over the past 30 days, Solana has showcased a remarkable performance with a 49.2% gain, outpacing both Bitcoin’s 40.6% and Ethereum’s 37.7% growth. The survey highlights that Solana and Ethereum have the potential to outperform Bitcoin in the ongoing cycle. This performance is attributed to Solana’s involvement in sectors like DePIN and Meme Coins. Interestingly, 75% of survey respondents believe that Solana could even surpass the performance of Crypto ETFs in this cycle. The survey also suggests that Bitcoin’s price may reach a high range between $100K and $150K during this period.
Selective Altcoin Boom in 2025
The survey report anticipates a selective altcoin season, with particular attention given to specific tokens. About 43% of respondents expressed confidence in AI-related tokens, indicating a growing interest in this niche. Additionally, 14.3% of participants showed a preference for DePIN tokens, highlighting their potential in the evolving cryptocurrency landscape.
Scepticism Surrounding Meme Coin, Gaming, and Layer-2 Tokens
Despite the positive sentiment towards certain altcoins, there is a notable scepticism surrounding meme coins, gaming tokens, and Layer-2 tokens. Almost 27.5% of respondents voiced doubts about the growth prospects of the gaming token sector. Similarly, 24.6% expressed disinterest in Layer-2 tokens. The majority of respondents were hesitant to increase their exposure to meme coins, with only 43% currently holding these assets, and only a handful have invested over $10,000. This cautious stance highlights the uncertainty that surrounds these segments of the cryptocurrency market.
In conclusion, the MV Global survey offers valuable insights into the current cryptocurrency landscape. It captures both the optimism for certain tokens, such as AI-related assets, and the caution surrounding others as the market gears up for a potential peak in 2025. As investors and analysts navigate this dynamic market, understanding these trends and sentiments will be crucial for making informed decisions.
