Solana 'Looks Hungry' To Replace BNB As Third 'Non-Stablecoin' After Bitcoin And Ethereum, Says Former ARK Invest Crypto Lead
Portfolio Pulse from Benzinga Neuro
Chris Burniske, former ARK Invest crypto lead, predicts Solana (SOL) could surpass Binance Coin (BNB) to become the third largest crypto asset, excluding stablecoins, after Bitcoin (BTC) and Ethereum (ETH). Despite a recent 10.5% drop in Solana's price to $180.63, Burniske remains bullish but advises realistic expectations. Solana's price has been on a downward trend, and Solana Labs co-founder Anatoly Yakovenko expressed skepticism about meme coins' public good contributions.
April 02, 2024 | 1:13 pm
News sentiment analysis
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NEGATIVE IMPACT
Solana is predicted to overtake Binance Coin in the crypto asset rankings, according to Chris Burniske.
If investors and traders perceive Solana as a stronger asset due to Burniske's prediction, Binance Coin could see a decrease in its market position and potentially its price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
Bitcoin remains the leading crypto asset, with predictions suggesting Solana could join it and Ethereum in the top rankings.
Bitcoin's established position as the leading crypto asset is unlikely to be affected by Solana's potential rise in the rankings.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Ethereum is predicted to maintain its position among the top crypto assets, alongside Bitcoin and potentially Solana.
Ethereum's position as a leading crypto asset is likely to remain stable, unaffected by the potential changes in rankings with Solana's rise.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Chris Burniske predicts Solana could surpass Binance Coin to become the third largest crypto asset, despite a recent price drop.
Burniske's prediction and his historical accuracy in the crypto market could drive investor interest in Solana, potentially increasing its price in the short term despite the recent downturn.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90