Solana (SOL) Price Prediction: VanEck With Massive Forecast But There_s a Catch

2023-10-29 08:12:50

TL;DR

Price Forecast: Analysts predict a price range from $9.81 (bearish) to $3,211.28 (bullish) for Solana by 2030.
Strengths: Solana boasts unmatched data throughput and is significantly more affordable than competitors for tasks like NFT minting.
Growth Indicators: A notable 74% increase in assets under management (AUM) by Solana’s DeFi apps was observed in October.

VanEck, the global asset manager and early adopter of ETFs and foreign equity investments, predicted a 10,000% rise for the Solana price in its most bullish 2030 scenario.

2030 is not very far off for a 10,000% return on any asset. But to be fair to those with open short interest in Solana, the worst-case scenario from VanEck analysts pegs SOL at $9.81 in 2030.

Solana Price Prediction 2030: $3,211

Here’s what the VanEck analysts had to say:

“By 2030, our Solana valuation scenarios project a SOL price ranging from a bearish $9.81 to a bullish $3,211.28, anchored by ied market shares and revenue estimations across key sectors.”

The note’s authors project Solana to host the first DeFi app with 100 million users. Meanwhile, they assume SOL monetizes at 20% of Ethereum’s take rate. Furthermore, they conservatively estimate SOL at less than half of ETH’s market share in 2030.

“In this note, we model a scenario in which Solana is the first blockchain to host an application that onboards 100M+ users.”

Here’s how they envision Solana nailing that killer app: Usability. The VanEck analysts write:

“As it stands, Solana’s data throughput exceeds that of any other blockchain in existence. In fact, Solana’s data capacity exceeds that of most planned blockchains.”

In addition to usability, or because of it, the way the VanEck authors define it in their note, there’s Solana’s affordability.

Solana Affordable DeFi Could Scale Fast

A Nansen analyst recently compared Solana with Ethereum and Polygon for minting a million NFTs. Ethereum’s costs were $33.6 million, and Polygon’s were $32,800. On Solana, it would cost $113.

Because of its speed and costs, the fundamentals of its business model are promising, with massive inflows from institutional investors as well as die-hard crypto devs and users.

As Solana’s price rose in October, the total number of assets under management (AUM) by Solana DeFi apps rose by 74%.

No stranger to innovation, VanEck has long been bullish on cryptocurrencies. In February, the crypto-friendly global fund noted in a report that a 3% Bitcoin allocation substantially improves portfolio diversification and performance.

Cette page peut inclure du contenu de tiers fourni à des fins d'information uniquement. Gate ne garantit ni l'exactitude ni la validité de ces contenus, n’endosse pas les opinions exprimées, et ne fournit aucun conseil financier ou professionnel à travers ces informations. Voir la section Avertissement pour plus de détails.