According to a new research report, asset management company VanEck believes that Solana’s price could potentially increase by 10,000% in value by 2030 if the blockchain attracts 100 million users.
The most prominent prediction from the report suggests that SOL could experience a price increase of 10,600% by 2030, potentially reaching $3,211.28 per token. In comparison, the 2030 price target for Ethereum (ETH) is set at $11,800.
Furthermore, the report illustrates Solana’s potential to narrow the gap between itself and Ethereum in the future. VanEck has been involved in the cryptocurrency space for some time and has filed for a Bitcoin ETF with the U.S. Securities and Exchange Commission in recent years.
SOL has emerged as a top 10 cryptocurrency, with impressive growth exceeding 200% since the beginning of 2023. The total value locked in the Solana ecosystem is $378 million.
If the bearish camp does not gain the upper hand, this could lead to a drop below $30. Traders are considering short SOL positions for potential selling. This is influenced by technical indicators, with the green line (+DI) decreasing and the red line (-DI) increasing, signaling a potential price decline.
This pattern shows increasing downside pressure and the possibility of a market downturn, which could cause Solana’s price to drop by 15% from the current valuation of $32. This aligns with nearby support levels reinforced by the 21-day exponential moving average.