🚀 Veteran Trader Foresees Solana Surpassing Ethereum 📈
🔍 As per U.Today, Peter Brandt, a seasoned trader renowned for his decades-long expertise, has set the cryptocurrency community abuzz with his prediction that Solana (SOL) could potentially outshine Ethereum (ETH). Brandt posits that should Solana overcome a significant resistance level, it might double its value against Ethereum, signaling a compelling investment opportunity amidst ongoing market fluctuations.
💡 Brandt identifies a pivotal resistance point on the SOL/ETH chart, marking a technical hurdle where sell orders amass. Should buyers successfully absorb this selling pressure, the price of SOL relative to ETH could witness a notable surge, potentially doubling SOL's value against its counterpart. Despite his seemingly bearish stance on Ethereum, Brandt clarifies that his sentiments are not pessimistic .
📅 In a tweet dated April 4, Brandt expressed skepticism towards Ethereum, labeling it as a 'junk coin.' However, in a subsequent tweet, he hinted at a shift in perspective, indicating his willingness to take a leveraged long position in ETH if the charts signaled favorable conditions. At present, the SOL/ETH indicator stands slightly lower at 0.0524. Solana has experienced a modest 0.56% increase in the last 24 hours, reaching $174, while Ethereum has risen by 1.83% to $3,319.
🌐 In parallel developments, Anza, a Solana-focused development firm spearheading the Solana client Agave, has provided updates on initiatives to alleviate current congestion on the Solana network. Collaborating with core contributors, the team is delving into the root causes of network congestion and exploring potential solutions. The primary issue revolves around a QUIC implementation and the behavior of the Agave validator client when processing a high volume of requests. The Anza team is actively testing a patch to address the network congestion, with plans for wider implementation upon successful validation. Expect further enhancements to network performance.
