The popular Coin Bureau cryptocurrency trading and market analysis program has published an update on fourth quarter prices for the Solana ($SOL) and Algorand ($ALGO) native network tokens.
Speaking in a recent YouTube video, Coin Bureau presenter “Guy” told his more than 1.43 million subscribers that the price of $ALGO could hit an all-time high in the coming weeks.
“The steady increase in the supply of ALGO has historically suppressed its price, although this appears to be changing slowly. ALGO recently pushed its $2.40 ICO price up, and while it fell rapidly as investors took profits, I believe ALGO could hit new highs in the coming weeks.”
The program’s host also mentioned that Algorand could eventually become one of the top ten crypto-assets by market capitalization, noting that there was a gap between “where ALGO is and where it should be” based on solid asset fundamentals.
Guy predicted a similar trajectory for Solana in the final quarter of 2021, saying $SOL managed to hold up well in response to short-term price action in cryptocurrency markets:
“As SOL’s market capitalization is already very large, it has much less leeway than Algorand in terms of price gains. If SOL hits $220 in the coming weeks, that would equate to a whopping 1000x return for SOL’s ICO investors.”
Guy predicted that Solana’s “realistic long-term target price” would be around $300.
Currently, according to data from CryptoCompare, $ALGO and $SOL are trading around $1,645 and $142.74 respectively.
Altcoins have declined over the past 24 hours, with Bitcoin’s dominance increasing over the market.