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Solana: it will be worth half of Ethereum to VanEck
By Davide Grammatica
According to investment management firm VanEck, Solana's market capitalization could soon reach 50 percent of that of Ethereum
Excellent prospects for Solana
Asset manager VanEck is back to emphasize how good Solana ‘s prospects could be in the crypto world in the near future. This is not an entirely new opinion, as VanEck has long been lopsided in favor of altcoin (and its intentions to launch a spot SOL ETF prove it), but it has recently declined into more concrete predictions.
Indeed, in a recent report, the company said that SOL could soon touch $330, significantly narrowing the gap with Ethereum in terms of capitalization (reaching 50 percent of that of ETH).
Playing in Solana’s favor, for VanEck, are its fast transaction times and cheaper fees than its competitors. And as time goes on, the fact that the ecosystem also seems to be gaining ground on Ethereum in terms of LTV and development. To date, Solana records about 3,000% more transactions than Ethereum, with an increase in active users of about 1,300% in one year. The on-chain payments sector also appears to be another springboard for the network’s growth.
VanEck's bet
The network has seen not insignificant growth just in the past year, and driving it in part seems to have been, similarly to what happened with BTC and ETH, institutional interest (albeit indirectly). Not surprisingly, some have already talked about launching a spot SOL ETF soon, with many issuers already ready to bet on it.
As mentioned, VanEck has already even submitted an application to the SEC for approval to launch a spot SOL ETF, but the regulatory hurdle may still take some time before it can be cleared.
