Solana eyes 110% rally and $330 top
The price of Solana (SOL) rose almost 2% this Thursday (26) and registered the third largest increase in the Top 10. As a result, the cryptocurrency surpassed the US$ 152 mark, once again awakening the market's interest. But in addition, the network began to stand out against its great rival, Ethereum.
Amid this, a recent report from VanEck shows that the cryptocurrency is poised for a rally to $330, or a gain of over 110%. The report also positions Solana as the main network that could challenge Ethereum’s market dominance in several key segments.
Solana Outperforms Ethereum in Key Areas
According to VanEck’s report, Solana has surpassed Ethereum in several areas, such as transaction volume, where Solana processes 3,000% more transactions than Ethereum. The number of active users has also seen a bath for Solana, which has 1,300% more daily active users than Ethereum.
Additionally, VanEck points out that Solana’s transaction fees are “5 million percent cheaper,” making it a more efficient and scalable solution. In fact, reduced fees were one of the factors that contributed to the success of Solana’s memecoin launch.
However, even with this positive data, Solana’s market cap is only 22% of Ethereum’s. But for VanEck, this means that the network has great growth potential and could soon catch up with its rival in this metric.
According to the report’s technical analysis, SOL has the potential to capture 50% of ETH’s market cap, with the SOL price reaching highs of $330. It showed that decentralized finance (DeFi), stablecoins, and payments will drive Solana’s growth.
Meanwhile, decentralized exchanges (DEXs) and DEX aggregators have become essential to the ecosystem, offering fast, low-fee transactions that make SOL more attractive to users and investors.
Solana Price Heading Towards $330
Following the report, SOL’s price rose 1.9% to $152.43, while its 24-hour high was $153.55. Over the past seven days, the cryptocurrency has seen gains of over 17%, reflecting the market’s renewed focus on it.
According to Coinglass, open interest in SOL futures increased by about 1% to $2.44 billion. However, the latest report notes that while retail investors are recognizing the advantages of SOL, institutional adoption has lagged behind.
In this sense, Ethereum holds a first-mover advantage and broader institutional trust, which explains why many investors have been hesitant to move large amounts of capital into SOL.