Solana was a recent outperformator among the main cryptos – ahead of 24% in last month – but that could simply be a precursor of an epic end of the end of the year, writes the CIO in the direction of the Bit Matt Hougan.
“In the past 18 months, the revenue for solid yields in crypto has been clear,” said Hougan. “Take ETP entries for a game, add solid business cash purchases and that’s it – you get big yields.”
Hougan recalled that the “recipe” sent Bitcoin of $ 40,000 to its current and more ether level than the triple, and the same configuration is formed around soil.
Seven main active managers – including Bitwise himself, alongside Grayscale, Fidelity and Vaneck – filed a file to launch Spot Solana ETPS. The American Commission for Securities and Exchange must be ruled by October 10. If even some are approved, retail and institutional investors could soon buy soil in the same way as they would.
It’s not the only back wind, said Hougan. Last weekend, a microcap previously listed on the stock market, Forward Industries (FORD)announced that it had raised $ 1.65 billion in crypto investment Heavyweights Galaxy Digital, Jump Crypto and Multicoin Capital.
The company’s game book is simple: buy soil, take it and generate the yield – transforming Solana into an asset generating income in a public assessment. At the helm is Kyle Samani, co-founder of Multicoin and one of the first champions of Solana.
Hougan compares Samani to Michael Saylor from Bitcoin or Tom Lee d’Ethereum – visible, vocal and capable of transforming a technical story into a dominant title. However, Solana must draw attention.
His step is speed. Unlike Ethereum, which uses additional layers to evolve, Solana manages everything on a single chain. A new upgrade – soon to be played – will reduce the time of transaction purpose from 12 seconds to 150 milliseconds. Transaction costs remain in one penny.
These gains come with compromises, authorized Hougan. Solana’s criticism argues that its structure is more centralized than other blockchains, which leaves it potentially exposed to network failures. Supporters compress that it is the only fast and inexpensive chain to support high volume use cases – such as assets or tokens stables – on a global scale.
And growth occurs. Solana is now third in Stablecoin liquidity and fourth token workers, with a volume of assets up 140% this year, Hougan said.
Then there is its size. With a market capitalization of $ 116 billion, Solana is still a small fish compared to 2.2 billions of dollars of bitcoin or $ 519 billion in Ethereum. This means that smaller inputs can move the needle more importantly. According to Hougan, $ 1.65 billion inward industries could have the same soil impact as an investment of $ 33 billion is on BTC.
That’s why he looks closely. “My suggestion?” Hougan wrote. “Keep an eye on Solana.”
