The cryptocurrency market has seen strong growth among top assets in the past week, with some coins outpacing Bitcoin. Solana (SOL), in particular, has made impressive gains, up 34.7%—much higher than Bitcoin’s 7-day rise of 28.1%. Solana’s current price stands at $217.71, and a new survey by MV Global, the Q4 2024 Crypto Investment Manager Survey, suggests that Solana could reach $600 during this bull cycle.
Let’s take a closer look at what the survey reveals.
The MV Global survey, which surveyed 76 top venture capital and hedge fund managers, highlights key trends in the current crypto market. A significant 33% of respondents predict that Solana’s price could exceed $600 in this cycle, while 23.2% expect it to reach $600 but not go higher. The rest of the participants expect the price to stay between $150 and $300.
In the last 30 days, Solana has outperformed Bitcoin and Ethereum, gaining 49.2% compared to Bitcoin’s 40.6% and Ethereum’s 37.7%. The survey suggests that Solana could continue to outperform Bitcoin, particularly due to its exposure to growing sectors like DePIN (decentralized physical infrastructure networks) and meme coins.
The survey also reflects high confidence in Solana’s future. About 75% of respondents believe that Solana could even outperform crypto ETFs in this cycle. This shows that many investors see strong potential for further gains.
The survey also points to a positive outlook for Bitcoin. Respondents predict that Bitcoin’s price could reach between $100,000 and $150,000 during this bull cycle. However, much of the focus seems to be shifting towards altcoins like Solana and Ethereum.
The survey report suggests that most funds anticipate a limited altcoin season with a focus on specific tokens. At least 43% of the respondents to the survey expressed their confidence in AI-related tokens. Nearly 14.3% favoured DePIN tokens.
Nearly 27.5% of survey respondents expressed scepticism about the growth of the gaming token sector. Likewise, at least 24.6% conveyed their disinterest towards Layer-2 tokens. The majority of the survey respondents indicated reluctance to increase their exposure to meme coins, showing a lack of confidence in this asset sector. The report reveals that only 43% have exposure to meme coins, and only a few have invested over $10,000.
In conclusion, MV Global’s survey provides valuable insights, capturing both optimism for specific tokens like AI-related tokens and caution around others as the market prepares for a potential peak in 2025.
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