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Solana could reach 50% of Ethereum’s market cap
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A recent report from Market Vector, a subsidiary of investment manager VanEck, reveals that Solana could reach up to 50% of Ethereum’s market value in the coming years.
The analysis points out that Solana processes 3,000% more daily transactions than Ethereum. Additionally, it has 1,300% more active users and offers significantly cheaper transaction fees.
Even with these advantages, Solana’s market cap currently represents only 22% of Ethereum. According to the report, this difference indicates that Solana is undervalued, leaving room for great appreciation in the future.
“If Solana reaches 50% of Ethereum’s market cap, its price could rise to $300 per token,” the document states.
For comparison, Solana was highlighted as one of the top three cryptocurrencies, alongside Bitcoin and Ethereum, in the June 2024 report.
Adoption of Solana by institutional investors has been slow. As the report pointed out, this hesitation is due to the fact that Ethereum, launched in 2014, entered the market long before Solana, which emerged in 2018. This generated greater familiarity among institutional investors with Ethereum, making it difficult to migrate to other networks, even if more efficient.
Still, Solana has demonstrated significant advances in adoption by large institutions. During the Breakpoint event held in Singapore in September, Citibank, the fourth largest bank in the US, and asset manager Franklin Templeton announced plans to integrate the SOL cryptocurrency network into their financial services.
This expansion reinforces the perception that Solana is becoming an attractive platform for large investors and renowned companies.
Another factor supporting Solana’s growth is the increase in the volume of stablecoin transactions on the network. In the last seven days alone, the network moved US$348 billion in stablecoins, more than double that of Ethereum, which registered US$159 billion in the same period.
Finally, the report mentions that Solana is expanding its range of use cases, with features including lending, payments and remittances. The integration of stablecoins, such as Société Générale’s USDS and EUR CoinVertible, positions the network as an ideal network for stable, fast and low-fee financial transactions, attracting even more users and institutions.
Solana could reach 50% of Ethereum’s market cap
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Solana could reach 50% of Ethereum’s market cap
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Solana could reach 50% of Ethereum’s market cap
