Crypto asset management firm VanEck believes Solana‘s price could rise by more than 10,000% in 2030 if its user base increases to 100 million.
As per the report, the digital asset’s price could surge to $3,211.28 in a bullish market, but it may plummet to less than $10 in a bearish scenario influenced by diverse market factors and revenue forecasts in critical sectors.
Onboarding the Next 100 Million Users
VanEck’s prediction assumes that Solana becomes the first blockchain to host an application capable of onboarding over 100 million users.
The asset manager also assumes SOL monetizes at only 20% of Ethereum’s take rate and achieves less than half of ETH’s market shares due to a fundamental difference in community philosophy.
Solana Price Prediction. Source: VanEck
Furthermore, VanEck also predicted that Solana investors could gain up to $8 billion in revenues by 2030. According to the asset manager, if all these assumptions are right, SOL’s price can be expected to exceed $3,000.
Solana’s Burgeoning Crypto Ecosystem
Solana has emerged as one of the top 10 cryptocurrencies by market capitalization, according to BeInCrypto data. SOL’s price has recorded an impressive 200% growth on the year-to-date metric despite its links to bankrupt crypto empire FTX.
Top 10 Crypto Assets. Source: BeInCrypto
Additionally, data from DeFillama shows that the network has a thriving decentralized finance (DeFi) ecosystem. The total value of assets locked on it currently stands at $381 million as of press time.
Away from these metrics, Solana has forged key collaborations with traditional global financial institutions. BeInCrypto reported that the platform has secured partnerships with industry giants like Visa and Shopify, who are using its technology to fasten their payment processes.
Furthermore, it secured a pivotal role as the ecosystem partner for the Dubai Multi Commodities Centre, a prominent economic free zone in the United Arab Emirates.
Read More: Best Crypto Sign-Up Bonuses in 2023
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
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