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

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

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.