08.02.2025 14:01
The U.S.-based investment firm VanEck has announced its year-end target for Solana (SOL), the fifth largest asset in the cryptocurrency market. According to an autoregressive forecasting model, Solana's market capitalization is expected to reach $250 billion, and the token price is projected to rise to $520. This increase indicates a 165% rise from the current price level.
According to an analysis shared by VanEck on the X (formerly known as Twitter) social media platform, it is predicted that Solana's market share in the smart contract platform market will rise from 15% to 22%. As of the publication time, Solana, trading at $191, has recorded a 102% increase over the past 12 months.
VanEck Expects a 165% Increase for Solana
VanEck's forecasts are based on the assumption that the U.S. M2 money supply will reach $22.3 trillion by the end of the year, showing an annual growth rate of 3.2%. The smart contract platform market is expected to rise from $770 billion to $1.1 trillion during this period.
The Solana Blockchain network has seen significant growth recently. According to data, the number of active wallets on the network exceeded 135 million in November. The popularity of Solana-based memecoins played a significant role in this success.
VanEck published a disclaimer regarding its positions in Solana. The firm also submitted an application to the SEC for a Solana-based spot ETF. While the SEC had previously not officially recognized spot Solana ETFs, it requested comments on Grayscale's application on Thursday.