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

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

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.