VanEck Predicts Solana (SOL) to Rise to $3,211 by 2030

VanEck's report has set an assumption that if Solana becomes the first blockchain to host an application with over 100 million users, the price of SOL could reach $3,211 USD by 2030.

VanEck Prices Solana (SOL) to Reach $3,211 by 2030

Introducing the report, the ETF investment firm VanEck contextualizes that blockchain application is still relatively limited, primarily used for value exchange and speculation. To truly propel blockchain forward, it needs to underpin practical applications that support mainstream user groups.

Therefore, in their report, VanEck posits a scenario where Solana becomes the first blockchain to host a single application supporting 100 million users. The investment firm explains that Solana surpasses its competitors in processing capability, alongside pioneering efforts in creating tangible impacts on daily life.

VanEck estimates that SOL could range from a low of $9.81 USD to a high of $3,211.28 USD by 2030 and attract $600 billion in annual transactions.

Comparing data transmission speeds (MB/s) of various blockchains. Source: VanEck

Despite its developmental potential, VanEck believes Solana will not surpass Ethereum. The investment firm also forecasts that ETH will reach $11,800 USD during that time.

VanEck also assumes SOL will earn just 20% of ETH's fee take rate and achieve less than half of ETH's market share due to fundamental differences in community philosophy.

Readers can explore more detailed analysis and predictions by VanEck here.

Forecasting SOL prices by VanEck across market scenarios.

See more: Understanding Wormhole

SOL is currently priced at $32.19 USD, showing strong recovery with a 25% increase over the past 7 days. The project also notes the largest inflow of capital among altcoins at $15 million USD.

Chart for SOL/USDT pair on Binance at 11:55 AM on October 28, 2023.