Fund manager predicts Solana spot ETF applications by 2024
VanEck predicted that Solana (Sol) will join the race spot ETF applications by the next year.
Solana is a Proof-of-stake (PoS) crypto blockchain which is popular in the crypto sector for its highly scalable crypto transaction ability, thanks to its unique protocol Proof-of-history (PoH). In 2021, Solana grabbed huge popularity and saw high adoption in the NFTs & Defi sector.
Recently popular investment fund manager VanEck published a report to share multiple predictions for the future of the crypto sector.
According to this investment manager, in 2024 Solana will successfully join the race of spot ETF applications, just like currently a dozen Bitcoin & Ethereum spot ETF applications are on the table of the United States Securities and Exchange Commission (SEC) to get approval.
Analysts predicted that the Solana (SOL) coin will secure third position in the crypto sector in terms of total value locked (TVL) by the next 2 years.
VanEck team also added:
“As TVL continues to grow across high-throughput chains (like Solana) and Chainlink struggles to find institutional adoption of its LINK token, we expect Pyth to gain meaningful market share.”
Notebely Solana’s TVL surged more than 150% over the past month to $860 million, amid the crypto bull initial phase, and experts believe that it will soon hit $1 billion which will be a very big achievement for the Solana network.
Solana, bug, Alameda, & downfall
In 2021, following huge popularity in the whole crypto sector, Solana coin faced very high sell pressure because the Solana network went offline multiple times and that caused intense fear among the crypto Investors.
In the entire 2022 phase, Solana went through multiple bug issues and the Solala community developers spent a huge time fixing the issues.
In the initial phase, before 2021, crypto hedge firm Alameda Research purchased a huge amount of Sol coins but Alameda went bankrupt & with the bankruptcy of this firm Sol Coin faced very high sell pressure & hit $17.
In 2023, Ethereum co-founder Vitalik Buterin jumped in support of Solana and shared his supportive opinion on the Solana project from the perspective of its talented developer’s team.
Read also: Telegram’s TON blockchain struggled badly with Bitcoin ordinals concept “Tonano”
