Solana price has surged this week, and the rising odds of a SOL ETF may push it higher this year. One way of taking advantage of SOL’s price action is to invest in top Solana rivals that could replicate its success this year. Let’s explore some of the best Solana competitors to buy and hold ahead of the approval.
Solana ETF odds
Top Solana Rivals For 100x Gains
Some of the best Solana alternatives to invest in ahead of the Solana ETF approval are Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK). These coins may do well as Polymarket data shows that the odds of a SOL ETF approval are high.
Avalanche (AVAX)
Avalanche is one of the top Solana rivals with solid metrics in its ecosystem. Data shows that Avalanche has 419 DeFi dApps in its ecosystem compared to Solana’s 192. It is also a big name in the decentralized exchange (DEX) and non-fungible industries. Most importantly, Avalanche has a staking yield of 8% compared to Solana’s 7%.
AVAX price also has solid technicals now that it has formed a double-bottom pattern and a falling wedge. That is a sign that it will stage a strong comeback this year. Their argument is that the SEC may approve an AVAX ETF if it accepts a Solana ETF since the two are mostly similar.
Avalanche Price Chart
Polkadot (DOT)
Polkadot is another quality blue-chip Solana rival to buy. The main reason is that the network is going through major changes this year. Some of these include making the DOT token the only coin for all its parachains. It will also reduce the number of staking days to 2 from 30 and introduce Ethereum Virtual Machine (EVM) compatibility.
Like with Avalanche, a SOL ETF approval means that the SEC will have no justification to approve a DOT fund. Another catalyst for the DOT price is that its chart pattern is similar to Solana’s with a double-bottom and a falling wedge. A DOT price rebound could see it soar to $11.65, up by 60% above the current level.
Polkadot Price Chart
Chainlink (LINK)
Chainlink one of the top Solana rivals to buy because of its crucial role in the crypto industry. It provides its oracle solutions across most chains and has accumulated a total value secured of over $37 billion.
On top of this, it has a crucial role in the Real World Asset (RWA) tokenization industry and is always innovating. The amount of LINK tokens in exchanges has crashed, a sign that many investors are holding. It also has strong technicals, with analysts predicting that the LINK price will surge to $40 soon.
Other Good SOL ETF Rivals To Buy
The other popular Solana competitor that may jump amid their ETF approval hopes are Binance Coin (BNB), Cronos (CRO), Sui (SUI), Aptos, and Tron (TRX).
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