Solana на пути к аналогичному успеху: инвестиционный директор Bitwise прогнозирует взрывной рост Translation: Solana on the Path to Similar Success: Bitwise CIO Predicts Explosive Growth

Solana has the potential to mirror Bitcoin’s success, as it offers comparable opportunities, according to Matt Hougan, Chief Investment Officer at Bitwise.

The expert identified two key drivers for Bitcoin’s growth. The price of the cryptocurrency could increase due to the overall market for value preservation expanding, as well as from Bitcoin’s share within this market rising.

With the current market capitalization standing at $27.5 trillion, and with digital gold representing 9% of that, maintaining this share while the overall market doubles would lead to a proportional increase in Bitcoin’s price.

«Many investors mistakenly focus on Bitcoin’s increasing market share, neglecting the broader market’s growth. Over the last 20 years, the value of the savings sector has increased tenfold—from $3 trillion in 2005 to $27.5 trillion today. For a cryptocurrency’s price to increase tenfold, it only requires a similar scenario while maintaining its current share. This is quite feasible,» Hougan remarked.

If the market continues to grow, and Bitcoin’s proportion reaches 50%—akin to gold—the price of a single Bitcoin could soar to $6.5 million, he believes.

According to Bitwise’s investment director, the same rationale applies to Solana. The blockchain platform is positioned as an infrastructure solution for stablecoins and the market for tokenized assets. The latter has the potential for tenfold growth, the expert emphasized.

Currently, Solana is in competition with Ethereum, TRON, and other platforms, holding approximately 14% of the sector, with a market capitalization exceeding $107 billion. Its technological advantages—high transaction speeds and increasing institutional support—create conditions for an increase in its market share.

«Solana is a young platform but is already expanding its presence with major players. Recently, Western Union selected it to launch its stablecoin. If I am correct, the combination of a growing market and share will create an explosive effect for the cryptocurrency—just like with Bitcoin,” Hougan concluded.

Previously, the expert predicted a rally for Solana to reach a new historical peak, fueled by the emergence of exchange-traded funds based on the asset in the U.S. On October 28, the launch of Bitwise’s spot SOL-ETF under the ticker BSOL took place.

The following day, Grayscale introduced a similar product—GSOL.

In the initial trading sessions, these products attracted $154 million. The issuers currently manage assets worth $439 million—0.4% of the total supply of Solana.

The altcoin has yet to show significant price movement. Over the past day, the price of SOL increased by 0.1%, while it dropped by 2.4% over the week.

At the time of writing, Solana is trading at around $186.

Analysts at Hyblock compared the asset’s reaction to Bitcoin’s behavior following the launch of spot BTC-ETFs in January 2024. They noted that Bitcoin initially remained stagnant but eventually broke out. A similar dynamic could occur with Solana.

Recall that earlier in October, Hougan described the asset as a future favorite on Wall Street.