VanEck, that behemoth of New York’s investment world, has lately been whispering sweet nothings into the ear of the digital asset space. With a confident smirk, they’ve declared the Solana network a thoroughbred poised to gallop ahead in the smart contract platform (SCP) stakes. Buoyed by a sea of nearly half a billion floating tokens, led by the whimsical memecoins, they seem to suggest that the future is as bright as a thousand blockchain nodes.
VanEck, in their infinite wisdom, believes that Solana, currently valued at a modest $191.8, will soar to the heavens, reaching a celestial price target of $520 by the time 2025 takes its final bow. This, they claim, will inflate its market cap to a bubble of around $250 billion. VanEck’s SCP market cap forecast, as shared on the X platform, is as grounded as a helium balloon, tied to the US M2 money supply growth, which, they say, winks suggestively at crypto market capitalization.
“Oh, we predict, dear investors, that M2 will balloon to $22.3 trillion by the year’s end, maintaining its steady 3.2 percent growth rate since its last low point in 2023. Through the mystical art of regression analysis, we foresee the SCP market capitalization blooming by 43 percent to a whopping $1.1 trillion, surpassing even the gilded days of 2021,” VanEck pronounced with a flourish.
According to VanEck’s crystal ball gazing, Solana’s SCP market cap will swell from 15 percent to 22 percent by the end of this year. Solana, it seems, is the belle of the web3 ball, outshining other Layer One (L1) chains with its on-chain waltz and revenue rumba.
How Solana Plans to Dance Its Way to Exponential Growth
The Solana network, it appears, has caught the eye of the Web3 community stateside, with none other than President Donald Trump leading the charge with his very own memecoin, the aptly named Official Trump (TRUMP). Solana’s memecoin ecosystem has swelled to over $11 billion, thanks in no small part to the Pump.fun protocol’s deft touch.
Having navigated a whole year without a single network hiccup, Solana has become the darling of institutional investors, eager to sprinkle a little crypto fairy dust on their portfolios. VanEck, ever the suitor, is among those vying to offer a spot Solana ETF in the land of the free and the home of the brave.
Others jostling to present their own spot Solana ETFs include Bitwise, Canary Capital, 21Shares, and Grayscale Investments. The changing of the guard at the US SEC, a consequence of President Trump’s re-entry into the Oval Office, has presumably flipped the odds in favor of a spot Solana ETF getting the green light before the year’s end. 🎲
In Brazil, the first spot Solana ETF was given thenod in 2024, with Hashdex leading the charge. The institutional investors and retail traders, it seems, can’t get enough of Solana, pushing its total value locked to over $9 billion and stablecoins market cap to around $12 billion. 🌊
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2025-02-07 01:47