This could represent a potential top for this market cycle and a new all-time high for the token, a far cry from the current record high of $259 in the 2021 bull run. VanEck Warns Of Missing Out On SOL Opportunities The report also notes that the roles of decentralized finance (DeFi), stablecoins, and payments are critical drivers of adoption for both Ethereum and Solana.
Based on the report, there is growing optimism that Solana could reach 50% of Ethereum’s market cap, which would mean a jump from the current market cap of $71 billion to $157 billion for the fifth-largest cryptocurrency. In addition, the research notes that the SOL price could reach a mark of $330, representing a rise of nearly 120% for the cryptocurrency.
At the same time, Solana’s cheaper fees and faster transaction times present a strong case for its adoption in payments and remittances. The asset manager believes that if institutions and everyday users can benefit from low-cost transactions, Solana’s user base could grow significantly, further strengthening its ecosystem and usage.
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