A research report published by VanEck indicated that Solana $149 could rally up to $330.
Advantages of Solana Over Ethereum
According to the report from VanEck, Solana outperforms Ethereum $2,595 in several areas. The report reveals that Solana conducts 3000% more transactions and has 1300% more daily active users compared to Ethereum. Additionally, its transaction fees are significantly lower, making Solana a more efficient and scalable solution.Despite these advantages, SOLâs market cap remains only 22% of Etherâs value. This indicates that while Solana excels in certain areas, Ethereumâs dominance persists. Although Solana offers speed and low costs, there are alternative solutions providing similar benefits. Moreover, recent updates to Ethereumâs layer 2 solutions have made them ten times more advantageous regarding fees. While Solanaâs transaction fees have yet to match Ethereumâs sub-networks, Ethereum continues to make progress.
Solana Price Predictions
Following the report, SOLâs price rose by 3.23% to $151.43, reaching a peak of $153.55 in the last 24 hours. Over the past week, the cryptocurrency gained approximately 17%, indicating a renewed market focus on Solana. Additionally, data from shows that Solanaâs open futures positions increased by about 1%, reaching $2.44 billion.
According to the technical analysis mentioned in the report, SOL could reach 50% of Etherâs market value, with price predictions suggesting it may hit $330. Factors driving Solanaâs growth include the DeFi sector, stablecoins, and payment systems.On the other hand, decentralized exchanges (DEXs) and DEX aggregators play a significant role in the ecosystem. Their ability to offer fast and low-cost transactions makes SOL Coin more attractive to users. The ongoing expansion of DeFi could support Solanaâs growth, but Ethereum remains a formidable competitor with its central position in all major DeFi protocols.
