Solana (SOL) has been gaining attention in the cryptocurrency world, with some analysts believing that it could offer more upside potential than Bitcoin (BTC) in the next 12 months. Mert Mumtaz, the founder of Solana-focused developer platform Helius Labs, boldly predicted that SOL could outperform BTC in terms of investor returns. He pointed out that SOL has the highest concentration of talent in the crypto space and is set to undergo significant improvements in 2025. Mumtaz previously predicted that SOL could reach $500 in the near future.
On the other hand, MultiCoin Capital partner Kyle Samani expressed his confidence in SOL’s potential to outshine both Ethereum and Bitcoin. He highlighted Solana’s advantages in terms of latency, throughput, and gas costs, making it a strong contender in the DeFi and payments sectors. Despite these positive sentiments, SOL has been struggling to maintain its value above $100 amidst macroeconomic uncertainty.
One potential bullish catalyst for SOL could be the approval of a U.S Spot SOL ETF, although it is uncertain how much of an impact this would have on the coin’s performance. Market participants are not very optimistic about SOL crossing the $300 mark in 2025, with only a 17% chance of hitting a new all-time high predicted by bettors on Polymarket. In contrast, Bitcoin seems to have more support from speculators, with the majority expecting BTC to reclaim its all-time high in 2025.
However, the SOL/BTC ratio, which tracks SOL’s relative price performance compared to BTC, is showing signs of a potential rebound. If SOL can regain over 50% of the ground it has lost against BTC, it could signal a positive trend for the coin. Overall, the future performance of SOL remains uncertain, but analysts like Mumtaz and Samani are optimistic about its potential to outperform BTC and ETH in the coming months.
