Crypto News & Watchlists

Investment Giant VanEck Predicts Solana (SOL) Will Become Top Three Blockchain by Market Cap in 2024

Crypto analysts at the investment management giant VanEck are predicting big things for the Ethereum (ETH) competitor Solana (SOL) in 2024.

Matthew Sigel, VanEck’s head of digital assets research, and Patrick Bush, a digital assets senior investment analyst, predict that Ethereum will lose market share to Solana next year due to the latter project having “less uncertainty surrounding their scalability roadmap.”

The analysts also predict that Solana will rise to become a top-three blockchain by market cap, total value locked (TVL) and active users.

The TVL of a blockchain represents the total capital held within its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets. Solana currently ranks sixth among chains in terms of TVL, according to the decentralized finance aggregator DeFi Llama.

Sigel and Bush also predict that Solana will join the race for exchange-traded funds (ETFs) in the United States. So far, financial firms have filed with the Securities and Exchange Commission (SEC) for spot Bitcoin (BTC) and Ethereum ETFs.

SOL is trading at $74.05 at time of writing. The sixth-ranked crypto asset by market cap is up more than 6.65% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Investment Giant VanEck Predicts Solana (SOL) Will Become Top Three Blockchain by Market Cap in 2024 appeared first on The Daily Hodl.

Leave A Reply

Your email address will not be published.

No coins selected