Solana
Solana will join Bitcoin and Ethereum as top crypto assets, predicts $1.6 trillion asset manager
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Franklin Templeton, a global investment firm managing $1.6 trillion, released a report titled “Solana: Accelerated Adoption,” which predicts that Solana is poised to become the third major crypto asset after Bitcoin and Ethereum.
The report states: “Our view is that Solana’s growth is likely to continue as it is well positioned to capture the next wave of crypto adoption, cementing itself as the third major crypto asset after Bitcoin (BTC ) and Ethereum (ETH).
Analysts point out that Solana dominated capturing the surge in crypto activity during this period, especially thanks to major airdrops to the Solana ecosystem, such as Jito and Pyth.
“These airdrops created a billion-dollar wealth effect in the ecosystem, driving up SOL tokens and other tokens in the Solana ecosystem, particularly meme coins,” the report said.
Franklin Templeton analysts point out that Solana has seen a significant increase in total fees and decentralized exchange volumes over the past year, indicating strong growth.
“Over the past year, Solana has experienced significant growth, demonstrated by an increase in both total fees and DEX volumes on the network,” the report mentions.
The asset manager believes Solana is uniquely qualified to capture the next wave of adoption across several sectors, including decentralized physical infrastructure networks (DePIN), payments (especially micropayments), squeezable NFTs (XNFT ) and centralized limit order books (CLOB) with payment flows for orders.
Although Solana has experienced congestion issues due to high demand, the developer community is actively working on solutions. Firedancer, a Solana validation client developed by Jump Crypto, is a major catalyst expected to address these issues.
Franklin Templeton grows up interest in Solana, as seen in their tweets earlier this yearstems from the company’s attraction to the vision of Solana co-founder Anatoly Yakovenko and significant developments in the Solana ecosystem during Q4 2023, including progress in Decentralized Prediction Markets (DePIN ), DeFi, meme coins and NFTs.
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