The Potential of Solana (SOL) According to Bitwise Asset Management
Solana (SOL) has been projected to reach a price range of $2,318.90 to $6,636.88 by 2030 by Bitwise Asset Management. This growth is expected to be driven by the increase in daily active addresses and the strong blockchain infrastructure of Solana.
Forecasting Solana’s Network Expansion
- Bear case: 42.6 million daily active addresses (DAAs) with a 35.1% CAGR
- Base case: 71 million DAAs with a 47.2% CAGR
- Bull case: 113.6 million DAAs with a 59.1% CAGR
Bitwise believes that Solana has the potential to surpass traditional blockchain platforms in terms of scalability and transaction efficiency.
Key Highlights from the Report
- Solana has 7 million peak daily active addresses
- It holds a 75% dominance in daily transactions over Ethereum and its Layer 2 solutions
- Theoretical throughput of 65,000 transactions per second with sub-$0.10 fees
- Staking mechanism and network economics generating $409 million in monthly revenue
- Correlation coefficient of 0.61 with Bitcoin and Ethereum
- Beta of 1.90 to Bitcoin, indicating amplified returns in bullish markets
The report emphasizes Solana’s diversification potential and its ability to outperform in various market conditions.