Solana’s bullish sentiment could be slowed down as institutional ETFs and meme coin trading lose momentum, according to crypto expert Andrew Kang, co-founder of a crypto-focused venture capital company. Kang suggests that the unpredictable demand from meme traders could have a significant impact on Solana’s performance, potentially causing its price to fall to $80 if meme trading decreases in the future. However, Kang also acknowledges that Solana’s underlying technology and long-term potential could support its price in the future.
Kang further argues that the delayed integration of ETFs into wealth management platforms could have a significant impact on the cryptocurrency market. The expected influx of ETF money is now projected to come in the fourth quarter or toward the end of the year. In the absence of substantial ETF inflows, the momentum in the cryptocurrency market could reverse from upward to downward. Nevertheless, Kang believes that Bitcoin will maintain its strength, with prices unlikely to fall below $50,000.
As for Ethereum, Kang suggests that its value might sustain until the ETF approval, but its upside is projected to be limited to the low $4,000s this year. If there is insufficient inflow or substantial selling of ETH, its price could decline to the low to mid $2,000 range. While the Ethereum community is known for its strong advocacy and understanding, traditional finance experts indicate relatively low interest in Ethereum ETFs.