Solana Could Hit $330 and Reach 50% of Ethereum's Market Cap — VanEck Report

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Key Advantages of Solana
  2. Institutional Investor Lag
  3. Factors Suppressing Ethereum's Price


    4. According to VanEck's September 25 report, Solana (SOL) could reach $330 and attain 50% of Ethereum's (ETH) current market capitalization, driven primarily by Solana's superior speed and transaction processing metrics.

    Key Advantages of Solana

    The report highlighted Solana's throughput, which can process thousands of transactions per second (TPS), which is 3,000% higher than Ethereum's TPS. Solana's daily active user count is 1,300% higher, and transaction fees are nearly 5 million percent cheaper compared to the Ethereum network.

    Institutional Investor Lag

    The report stated that retail investors are 'slowly waking up' to Solana's potential as a smart contract platform, while institutional investors have been slow to recognize its advantages. One possible reason for this lag could be the hesitancy to switch from well-established assets like ETH to the relatively newer Solana.

    Factors Suppressing Ethereum's Price

    Earlier in September 2024, VanEck released a report outlining the factors suppressing Ethereum's price. The primary reason for Ethereum's poor price performance is the value extraction from Ethereum layer-2 networks. The rapid growth of these projects and the massive reduction in transaction fees have led to a collapse of Ethereum layer-1 revenues by 99% since March 2024.

    VanEck's report highlights the significant advantages of Solana in terms of speed and efficiency, as well as the key challenges faced by Ethereum. These factors could substantially impact future price dynamics in the cryptocurrency market.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.