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

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Crypto analysts on the funding administration large VanEck are predicting large issues for the Ethereum (ETH) competitor Solana (SOL) in 2024.

Matthew Sigel, VanEck’s head of digital belongings analysis, and Patrick Bush, a digital belongings senior funding analyst, predict that Ethereum will lose market share to Solana subsequent yr as a result of latter undertaking having “much less uncertainty surrounding their scalability roadmap.”

The analysts additionally predict that Solana will rise to change into a top-three blockchain by market cap, whole worth locked (TVL) and lively customers.

The TVL of a blockchain represents the entire capital held inside its good contracts. TVL is calculated by multiplying the quantity of collateral locked into the community by the present worth of the belongings. Solana at present ranks sixth amongst chains when it comes to TVL, in response to the decentralized finance aggregator DeFi Llama.

Sigel and Bush additionally predict that Solana will be part of the race for exchange-traded funds (ETFs) in america. To date, monetary companies have filed with the Securities and Change Fee (SEC) for spot Bitcoin (BTC) and Ethereum ETFs.

SOL is buying and selling at $74.05 at time of writing. The sixth-ranked crypto asset by market cap is up greater than 6.65% prior to now 24 hours.

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