Hedge funds and venture capital firms are optimistic about Solana’s future, with many expecting the cryptocurrency to reach $600 during this bull cycle. According to the “Q4 2024 Crypto Investment Manager Survey” by MV Global, over 30% of the respondents believe that SOL will surpass $600 and set a new all-time high.
Some analysts predict that Solana will outperform Ethereum and Bitcoin in this cycle, citing its potential for significant upside. They see SOL as a straightforward way to capitalize on various sectors like DePIN and meme coins. Additionally, the survey indicates that 75% of participants believe SOL will outperform crypto exchange-traded funds (ETFs) in the current cycle.
The survey interviewed 76 top liquid funds and venture allocators in the crypto market, with half being venture capital funds. While most respondents have high hopes for Solana, there is a lack of upside conviction when it comes to Bitcoin. Many predict that Bitcoin will peak between $100,000 and $150,000, falling below expectations from institutional researchers.
In terms of altcoins, nearly 70% of respondents anticipate an “alt season” but only for selected altcoins. Tokens related to the AI narrative are popular among participants, along with decentralized physical infrastructure networks (DePIN) and native tokens for DeFi applications. On the other hand, gaming tokens are seen as the worst performers in this cycle, with some suggesting integration with existing games rather than creating new ones.
Overall, the survey provides valuable insights into the sentiments and expectations of high-net-worth asset managers regarding cryptocurrencies like Solana and Bitcoin. Despite some caution around certain sectors like meme coins and layer-2 blockchains, there is a general sense of optimism and anticipation for the future of the crypto market.