Market maker GSR assessed Solana's potential gains in its latest report "Is Solana Next?" and believed that just "the market begins to believe that the Solana spot ETF will be approved" is enough to make SOL's future gains many times higher than BTC.
(VanEck applied for the first Solana ETF in the United States, Bloomberg analyst: It is not impossible to pass)
GSR: Solana Spot ETF Possibility Increases
GSR lists various benefits of Solana in the report:
Possibility of listing spot ETFs.
A wide range of applications (protocols) and a large user and developer community.
Technical excellence: including historical proof mechanism, parallel transaction processing, and high hardware requirements to optimize speed and security (also sacrificing decentralization).
The report mainly focuses on the potential chance of the Solana spot ETF being launched and the positive impact on the price after it is launched, especially as cryptocurrencies seem to have become a political issue.
GSR analysts pointed out that Trump’s support for the encryption industry allowed the Democratic Party to relax its stance on digital assets during the election year:
While the current legislative and regulatory structure is unlikely to allow the launch of numerous digital asset spot ETFs, the Trump administration and the liberal SEC Commission may do so. With the emergence of the Digital Asset Market Structure Act, which defines securities and commodities, the possibilities have really been raised.
Solana ranks third in market demand
According to GSR's scoring criteria, Solana's market demand and degree of decentralization are expected to make it join the ranks of Bitcoin and Ethereum's spot ETFs.
In particular, Solana holds a solid second place in demand score, far ahead of third-placed Near.
Decentralized Rating
Demand Rating SOL’s future growth will once again exceed that of BTC
GSR’s bullish stance on SOL is based on BTC’s rise from $27,000 in October to current levels of around $63,000 last year as “the market begins to believe that spot ETFs will be allowed.”
In contrast, GSR believes that SOL may rise 1.4 times in a bear market, 3.4 times in normal conditions, and 8.9 times in a bull market. There is even reason to believe in a higher rise, because the functions of SOL and BTC in the ecosystem are not similar, and SOL is It is widely used in staking and DeFi applications, and the liquidity and market capitalization may not grow linearly.
SOL potential increase
This article Market maker GSR: The probability of Solana spot ETF has greatly increased, and the increase will be much higher than that of Bitcoin. First appeared in Chain News ABMedia.
