VanEck Forecasts Solana (SOL) to Rank as a Top Three Blockchain in Market Cap by 2024

VanEck's Crypto Analysts Forecast Major Growth for Solana (SOL) in 2024, Challenging Ethereum (ETH)

"VanEck Experts Predict Ethereum Market Share Loss to Solana in 2024"

"Matthew Sigel, the head of digital assets research at VanEck, and Patrick Bush, a senior investment analyst in digital assets, forecast significant market shifts in the blockchain sector for 2024. They predict Ethereum will lose a portion of its market share to Solana, attributing this potential shift to Solana's clearer scalability roadmap and reduced uncertainty.

The analysts further anticipate Solana ascending to become one of the top three blockchains based on market capitalization, total value locked (TVL), and active user base. TVL, a critical metric representing the total capital in a blockchain's smart contracts, is calculated by the current value of assets multiplied by the amount locked in the network. Currently, Solana holds the sixth position in TVL rankings, as reported by DeFi Llama, a decentralized finance aggregator.

Additionally, Sigel and Bush expect Solana to make significant strides in the U.S. exchange-traded funds (ETFs) market, joining Bitcoin (BTC) and Ethereum (ETH) ETFs, which have already been filed with the Securities and Exchange Commission (SEC).

Dec 10, 2023

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