Ukrainian developer’s cryptocurrency predicted to grow by 10,000%

Experts of the American company VanEck, which manages more than $ 75 billion, have predicted a significant growth of the Ukrainian developer’s cryptocurrency. VanEck analysts predicted that by 2030, the value of Solana could grow by 10,000%.

The experts suggested that if 100 million users are attracted, the price of Solana will reach $ 3211 per token. For comparison, analysts set the target value of Ethereum for 2030 at $ 11,800. VanEck’s report presents a wide range of scenarios for estimating the value of SOL by 2030. The asset’s price ranges from $ 9.81 to $ 3211.28 depending on various market factors and revenue estimates in key sectors.

Currently, Solana is among the ten largest cryptocurrencies by market capitalization, having shown an impressive growth of more than 200% since the beginning of 2023. The total value of funds blocked in the ecosystem (TVL) is about $ 378 million.

VanEck noted that Solana’s throughput is faster than Ethereum’s, significantly exceeding Ethereum’s in terms of speed. Analysts also emphasized the sharp contrast between the philosophy of SOL and ETH. Unlike the Ethereum team, Solana developers emphasize that the blockchain space should be inexpensive and user-friendly, as well as promote intensive technological progress.

However, the network also has drawbacks. VanEck believes that Solana has too high security costs due to inflationary payments to validators. In the short term, the project’s profitability is not a concern, but ensuring organic demand for SOL to cover security costs can be a big problem, analysts say.

At the time of writing, the cryptocurrency by Ukrainian developer Anatoly Yakovenko is trading at $ 32.74, up 6.8% over the week and 61.7% over the month. Cryptocurrency analyst Altcoin Sherpa even called Solana the best investment. The analyst emphasized that if Solana’s EMA «can comfortably stay above $ 27, then $ 37 is the next area of growth .» Altcoin Sherpa also warned about the SOL supply coming to the market via FTX — the failed cryptocurrency exchange has received court approval to liquidate $ 3.4 billion worth of cryptocurrency, which mainly consists of SOL.