Solana Market Cap Can Reach 50% of Ethereum: VanEck Report
Key Points:
- VanEck has expressed optimism about Solana market cap to reach 50% of Ethereum.
- The asset manager’s report highlights Solana’s advantages over Ethereum, including processing 3,000% more transactions
VanEck, a $100 billion asset manager, emphasized that, in time, the potential of Solana market cap can grow to 50% of Ethereum’s market capitalization.
Read more: VanEck Ethereum Futures ETF Closure As Investors Turn To Spot ETHV
VanEck Outlines Solana Market Cap Potential
A report by VanEck’s research firm indicated that Solana may rise to a price target of $330 as it increasingly narrows the gap on Ethereum.
Solana has, with its fast transaction times and low fees, long been considered one of the most formidable competitors to Ethereum. It hasn’t challenged Ethereum thus far, but VanEck believes that the momentum of the Solana market cap is gathering. The network has seen some pretty robust growth, particularly after behemoths integrated its technology.
Interest in Solana has surged, particularly in 2024 as the broader cryptocurrency market moved forward with the introduction of crypto-based ETFs. These investment products opened the market to institutional investors, though so far, only Bitcoin and Ethereum ETFs have been approved. However, GSR Markets suggested earlier this year that Solana might be the next cryptocurrency to get approval.
VanEck also highlighted how well Solana has been doing against Ethereum. Solana processes 3,000% more transactions than Ethereum at a nearly 5 million per cent lower cost for transaction fees, and its daily active users are up about 1,300%. On top of that, the use cases in DeFi, payments, and remittances make Solana a hot contender to continue higher.
VanEck Files for Solana ETF Amid Regulatory Uncertainty
In June, VanEck filed an application with the SEC to offer a Solana ETF. The firm emphasized the payment, transaction, and decentralized app capability of Solana, calling its blockchain a censorship-resistant global state machine without any reliance on sharding or Layer 2 scaling solutions.
According to VanEck, Solana offers high performance, low transactional fees, strong security, and one of the most active developer communities, making it perfect for an ETF product. While a very important step, the Solana ETF proposal is not yet assured of getting through the regulatory hurdle.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Solana Market Cap Can Reach 50% of Ethereum: VanEck Report
Key Points:
- VanEck has expressed optimism about Solana market cap to reach 50% of Ethereum.
- The asset manager’s report highlights Solana’s advantages over Ethereum, including processing 3,000% more transactions
VanEck, a $100 billion asset manager, emphasized that, in time, the potential of Solana market cap can grow to 50% of Ethereum’s market capitalization.
Read more: VanEck Ethereum Futures ETF Closure As Investors Turn To Spot ETHV
VanEck Outlines Solana Market Cap Potential
A report by VanEck’s research firm indicated that Solana may rise to a price target of $330 as it increasingly narrows the gap on Ethereum.
Solana has, with its fast transaction times and low fees, long been considered one of the most formidable competitors to Ethereum. It hasn’t challenged Ethereum thus far, but VanEck believes that the momentum of the Solana market cap is gathering. The network has seen some pretty robust growth, particularly after behemoths integrated its technology.
Interest in Solana has surged, particularly in 2024 as the broader cryptocurrency market moved forward with the introduction of crypto-based ETFs. These investment products opened the market to institutional investors, though so far, only Bitcoin and Ethereum ETFs have been approved. However, GSR Markets suggested earlier this year that Solana might be the next cryptocurrency to get approval.
VanEck also highlighted how well Solana has been doing against Ethereum. Solana processes 3,000% more transactions than Ethereum at a nearly 5 million per cent lower cost for transaction fees, and its daily active users are up about 1,300%. On top of that, the use cases in DeFi, payments, and remittances make Solana a hot contender to continue higher.
VanEck Files for Solana ETF Amid Regulatory Uncertainty
In June, VanEck filed an application with the SEC to offer a Solana ETF. The firm emphasized the payment, transaction, and decentralized app capability of Solana, calling its blockchain a censorship-resistant global state machine without any reliance on sharding or Layer 2 scaling solutions.
According to VanEck, Solana offers high performance, low transactional fees, strong security, and one of the most active developer communities, making it perfect for an ETF product. While a very important step, the Solana ETF proposal is not yet assured of getting through the regulatory hurdle.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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