VanEck, one of the first asset managers in the United States to offer investors access to international markets, has predicted a bullish future for Solana (SOL), an Ethereum scaling solution that follows a proof of history consensus. The asset management firm believes that the altcoin can reach above $3,000 in the coming seven years
In a report published by VanEck, the firm predicted a wide range of values for the leading digital asset, from a conservative $9.81 to an ambitious $3,211.28 by 2030. On the other hand, the firm predicted Ether (ETH) to reach $11,800 by 2030. Interestingly, if Solana breaks above $3,000 and reaches the expected price by 2030, this would mean a 10,600% price surge for the altcoin.
Interestingly, VanEck also claims that there is a possibility that Solana will be the first blockchain to accommodate applications with over 100 million users, a major milestone for the digital asset community. In the report, the firm claims that the distance between Ethereum and Solana will reduce with time due to the increasing capabilities of the latter
It is crucial to note that since the start of 2023, the SOL token has shown impressive growth, rising by more than 200% and breaking above the $32 price level recently. VanEck believes that Solana “offers the cradle with the right features that have the best opportunity of growing the next killer application,” while adding:
“Rather than specializing in modular blockchain components as Ethereum and its supplicants are building, they are cutting a course to develop an integrated blockchain that combines these components into an integrated data throughput machine.”
As reported earlier by Bitnation, the FTX estate also seems bullish on the SOL token, as it recently staked a whopping 5.5 million SOL coins in Figment, a staking validator firm for institutional investors. The stake coins are worth almost $176 million based on current prices
