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VanEck, a $100 billion asset manager, predicts that Solana could reach 50% of Ethereum’s market cap, with a potential price target of $330, as the network continues to close the gap on Ethereum. Known for its fast transaction speeds and low fees, Solana has long been seen as a top competitor to Ethereum, and recent developments suggest it’s finally gaining the momentum needed to challenge the second-largest cryptocurrency.
The surge of interest in Solana is fueled by its impressive integrations with major firms like Franklin Templeton, Citigroup, PayPal, and Coinbase. VanEck’s report highlights that Solana processes 3,000% more transactions than Ethereum, has 1,300% more daily active users, and boasts transaction fees that are nearly 5 million percent cheaper than Ethereum’s.
As institutional investors begin to take notice, VanEck believes Solana is set to play a crucial role in the future of the crypto market, solidifying its position as a formidable Ethereum rival.
