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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.
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