HomeNewsUnleashing Solana's Soaring Potential: VanEck Research Sets Ambitious Price Target, Propelling SOL...

Unleashing Solana’s Soaring Potential: VanEck Research Sets Ambitious Price Target, Propelling SOL to New Heights

- Advertisement -
    • VanEck’s digital asset research department suggests significant growth potential for Solana (SOL), a rival to Ethereum (ETH), provided certain conditions are met.
    • The research department bases its forecasts on the assumption of Ethereum and potentially Solana becoming dominant open-source global settlement networks, with Ethereum reaching $51,000 in its “bull case” scenario by 2030.

Solana’s Future Upside: VanEck’s Perspective

VanEck’s digital asset research department suggests that Solana (SOL), a competitor to Ethereum (ETH), possesses immense future potential if specific conditions align. This assertion emerged from a recent research report from VanEck that outlined its forecast for Ethereum’s price in 2030.

The foundation for VanEck’s forecast, which posits Ethereum at a staggering $51,000 in its most optimistic scenario, is the notion of Ethereum being adopted widely across numerous business sectors. VanEck maintains that Ethereum could become the preeminent open-source global settlement network, housing significant commercial activity from business sectors that stand to gain from migrating their operations to public blockchains.

Translating the Outlook to Solana, Albeit with Greater Risk

- Advertisement -

Matthew Sigel, head of VanEck’s digital asset research, suggests in a Bankless interview that the same perspective could apply to Solana, albeit with a higher risk profile.

>> Buy Solana quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with SOL now. Visit Website <<

- Advertisement -

He explains that by considering the top two assumptions of penetration rate and Solana capturing 70% of all open-source blockchain activity, the upside could be considerably higher. However, this comes with a significantly elevated level of risk.

Sigel also notes that Solana’s miner extracted value (MEV) constitutes a much larger portion of the revenue line, which could lead to centralization concerns. He mentions that Solana’s chain has some opacity, with a limited number of active participants extracting value, which raises questions. As a result, despite having more potential upside in tokens like Solana and ATOM, VanEck suggests smaller position sizes due to the uncertainties.

As of the time of the report, Solana was trading at $19.86. This potential upside for Solana, as indicated by VanEck’s research, illustrates the evolving landscape of the digital asset space, where new contenders are continuously emerging to challenge established players like Ethereum. As always, investors must carefully consider the accompanying risks in such scenarios.

Best Crypto Exchange for Everyone:

  • Invest in Solana and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started

 

- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
RELATED ARTICLES
- Advertisment -spot_img

LATEST ARTICLES