By: Eliza Bennet
As per the prediction by financial asset management giant VanEck, Layer-1 blockchain Solana's native SOL token could rise significantly, reaching prices up to an ambitious $3,211 by 2030 from around $32, depicting an enormous 10,600 percent price surge. The analysis also suggests Solana's potential to become the first blockchain to support applications with more than 100 million users, posing a strong competitive threat to Ethereum. Over these years, VanEck has been playing a prominent role in the cryptocurrency market by presenting Bitcoin exchange-traded fund applications to the US Securities and Exchange Commission.source
The bullish scenario derived from VanEck’s analysis is not the only indicator of Solana's potential success. SOL has recently been listed in the top 10 cryptocurrencies, along with an impressive value gain exceeding 200 percent since the beginning of 2023. Currently, the total value locked in Solana's ecosystem is estimated to be $378 million. However, potential pullback might still exist in the SOL price index, which aims to provide a 15 percent decrease in Solana's price in the event of the bear's take-over.source
Solana's rising valuation proposed by VanEck is a reflection of its increased interest in the altcoin. By using a valuation framework, VanEck hypothesizes that SOL price would reach $335 by 2030, even in a base case scenario where Solana holds 30% share in the smart contract market. In a bearish scenario, the SOL token is projected to trade below $10.source
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