dailyhodl.com
Crypto veteran Chris Burniske is reasserting his confidence in Ethereum (ETH) rival Solana (SOL), confirming a future price prediction despite the downward market.
Late last month, Burniske, a partner at crypto venture firm Placeholder, said that a price target of $1,000 per SOL may end up looking “conservative” in the future.
Since his prediction, Solana has corrected significantly, dropping from around the $180 level, trading at $129 at time of writing.
But Burniske says,
“Still the case – unswayed by short-term price action.”
While doubling down on his $1,000 SOL prediction, he says that when Solana was trading at $8, many said it would plummet all the way down to $4. But Solana instead shot up over 20x to the $200 level.
Burniske is also bullish on fellow layer-1 crypto project Celestia (TIA). The investor previously said that if people understood Celestia’s unique value proposition, they wouldn’t be too concerned about the altcoin’s current correction.
“If you lost your bullish appetite on TIA because the price went down, you probably never dove into Celestia Org enough to begin with. TIA is still up 2-3x from the listing week, if you bought a local top that’s your responsibility, and a drawdown is an opportunity to average down.”
At time of writing, TIA is trading at $4.53.
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