Crypto Investment Giant VanEck Forecasts Solana (SOL) to Rank Among Top Three Blockchains by 2024
According to crypto analysts at VanEck, a leading investment management firm, Solana (SOL) is expected to achieve significant milestones in 2024. Matthew Sigel, the head of digital assets research at VanEck, and Patrick Bush, a senior investment analyst, predict that Solana will surpass Ethereum (ETH) in terms of market share next year due to its more certain scalability roadmap.
Solana’s Rise to the Top
The analysts further forecast that Solana will become one of the top three blockchains based on market capitalization, total value locked (TVL), and active users. TVL represents the total capital held within a blockchain’s smart contracts. Currently ranked sixth in terms of TVL, Solana is steadily gaining ground according to DeFi Llama.
Entering the ETF Race
Sigel and Bush also predict that Solana will join the competition for exchange-traded funds (ETFs) in the United States. While financial firms have primarily filed for spot Bitcoin (BTC) and Ethereum ETFs with the Securities and Exchange Commission (SEC), Solana is poised to enter this arena as well.
Solana’s Current Performance
As of now, SOL is trading at $74.05 and has experienced a 6.65% increase in the past 24 hours. With its promising outlook and growing popularity, Solana appears to be on track to achieve remarkable success in the coming years.
Hot Take: VanEck’s Bullish Predictions for Solana
Veteran investment management firm VanEck believes that Solana will surpass Ethereum in terms of market share due to its more certain scalability roadmap. Additionally, VanEck predicts that Solana will rise to become one of the top three blockchains based on market capitalization, total value locked, and active users. Furthermore, VanEck foresees Solana’s entry into the race for exchange-traded funds in the United States. With Solana’s current positive performance and growing momentum, it is poised to make significant strides in the crypto industry.
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