- VanEck released a report delving into the potential of the Solana blockchain.
- According to the study, Solana’s SOL token will ascend to a staggering $3,211.28 by 2030.
- The report also compared Solana with Ethereum, unearthing their contrasting philosophies.
In an astonishing move, the US asset management company VanEck recently released a post presenting Solana as the “first blockchain to host an application that onboards 100M+ users”. The report also provided a bullish outlook on Solana’s SOL token, predicting that the price would ascend from the present bearish $9.81 to a staggering $3,211.28 by 2030.
The report titled “VanEck’s Base, Bear, Bull Case: Solana Valuation by 2030” delved into Solana’s potential, arguing that it is rooted in the success of the blockchain’s founding team in “blending radical experimentation with applied science to monumentally improve blockchain scaling”. Unlike other blockchains, Solana is invested in countering the limitations of technological feasibility issues.
Further, presenting a comparative study of Solana and Ethereum, VanEck unearthed their “contrasting philosophies”. While Ethereum has evolved from selling cheap blockspace to “peddling expensive blockspace that secures consumer-facing blockchains,” Solana believes in the “inexpensive” formation of blockspace. Elucidating the founding principle of Solana, the report stated,
The foundational principle of the Solana team is to build a network that assumes consumer-grade computing power grows with Moore’s Law and networking bandwidth expands alongside it. As a result, Solana is engineered to take advantage of hardware advancements more directly than competitors.
In addition, the report also sheds light on the innovative features of the Solona blockchain, including the novel “Local Free Markets”, created to ensure better user experiences. Using an analogy of a pipeline, VanEck’s report stated that the Local Free Markets are “internal sub-pipelines” that facilitate the easier flow of information from variant users to different parts of the ledger system.
VanEck’s positive perspective of Solana and SOL aligns with the current bullish track of the token. Currently trading at $32.31, SOL boasts a market cap of $13,538,977,060, securing the 7th rank. Despite a slight 0.92% dip, Solana experienced a remarkable 18.65% surge in the past week.
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