In a recent study report, global investment leader VanEck, managing assets worth more than $75 billion, has disclosed a compelling forecast for Solana’s future and answer to the question: Is crypto dead?. The report outlines a bullish scenario where Solana’s price could skyrocket to $3,211 by 2030, presenting an unprecedented 80-fold increase from its current value.
VanEck’s assessment delves into the bull, bear, and base cases for Solana as an investment. The base case suggests a price of $335 per token, while the bear case remains conservative at $10. However, the standout projection is the bull case, emphasising the potential for Solana to outshine Ethereum in the crypto reality.
Aaron Arnold from TheStreetCrypto highlighted VanEck’s evaluation, comparing Solana to promising tech stocks like Tesla and Amazon. The financial industry’s attention on Solana marks a significant milestone, showcasing a level of legitimacy not often seen in the crypto space.
Solana’s positive trajectory is supported by several development and market milestones, including noteworthy integrations with industry giants Visa and Shopify. Shopify handles 10% of the e-commerce, so this news is quite a big deal for Solana.
Also, Solana has been integrated into Google Cloud’s BigQuery system, which means that developers, businesses and users alike can now analyse and use the Solana blockchain in ways like never before. As you know, Google Cloud BigQuery basically does for blockchain the same as Google does for anything else. This integration is a kind of social proof that Solana is one of the cryptocurrencies worthy of this.
To address concerns about occasional blockchain downtime, Solana has introduced a major scaling solution upgrade, called Firedancer, promising improved scalability, speed, reliability, and validator diversity. It will be launched on the mainnet in 2024.
Aaron Arnold emphasised Solana’s growing reputation within the crypto industry, stating, “Solana is being evaluated by financial industry legacy giants, kind of the same way any promising tech stock would be. And this is something certainly that the crypto industry has never seen before.”
The assessment from VanEck underscores the increasing interest of mainstream financial institutions in cryptocurrencies. Solana’s potential breakout from the broader altcoin market is seen as indicative of the crypto industry’s readiness for its next bull run. As crypto enthusiast Austin Arnold noted, “In 2024, quality cryptos, altcoins that are separating themselves from the pack, this fundamental news to me is a big green flag.”
Jan van Eck, CEO of VanEck, recently expressed optimism about the near-term future of the crypto market, foreseeing a “very exciting spring” for the industry. VanEck’s positive outlook adds to the growing sentiment that digital coins, particularly Solana, are ready for significant growth and recognition in the coming years.
In conclusion, with VanEck’s endorsement and the prospect of an 8,000% surge by 2030, Solana stands as a lighthouse of potential in the ever-evolving platform of digital coins. The question remains: Is crypto dead or on the edge of a remarkable revival? Only time will disclose the answer to this intriguing puzzle.