Popular crypto trading and market analysis show Coin Bureau has published an update on realistic Q4 price targets for the native tokens of Solana ($SOL) and Algorand ($ALGO).
Speaking in a recent YouTube video, Coin Bureau’s host “Guy” told the channel’s over 1.43 million subscribers that the price of $ALGO could reach a new all-time high in the next several weeks.
As reported by The Daily Hodl, Guy said:
The constant increase in ALGO supply has historically suppressed its price, though this does seem to be slowly changing. ALGO recently pushed past its ICO price of $2.40 and though it was quickly pushed down as investors took profits, I believe that ALGO could reach new all-time highs in the coming weeks.
Coin Bureau’s host also mentioned that Algorand could eventually become a top ten cryptoasset by market capitalization, noting there was a gap between “where ALGO is and where it should be ” based upon the asset’s strong fundamentals.
Guy predicted a similar trajectory for Solana in the final quarter of 2021, saying that $SOL has managed to hold up well in response to short-term price action in the crypto markets:
Because SOL’s market cap is already very large, it has much less wiggle room than Algorand in terms of price gains. If SOL reaches $220 in the coming weeks, this will correspond to a whopping 1000x return for SOL’s ICO investors.
Guy predicted the “realistic long-term price target” for Solana to be around $300.
Currently (as of 9:48 a.m. UTC on October 12), according to data by CryptoCompare, $ALGO and $SOL are trading around $1.645 and $142.74 respectively.
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