- Global investment giant Franklin Templeton predicts Solana (SOL) to become the “third major crypto asset” after Bitcoin (BTC) and Ethereum (ETH).
- The Solana network has seen significant increases in total fees and decentralized exchange (DEX) volumes over the past year.
- Solana is “uniquely qualified” to serve as the adoption point for several sectors in the crypto space, according to Franklin Templeton.
Franklin Templeton, a global investment firm, has predicted that Solana (SOL) is set to establish itself as the “third major crypto asset” after Bitcoin and Ethereum. The firm cites Solana’s significant growth and unique qualifications as key factors in its prediction.
Franklin Templeton’s Analysis of Solana
Franklin Templeton’s digital assets unit notes that the Solana network has witnessed significant increases in total fees and decentralized exchange (DEX) volumes in the past year. The firm expects this growth to continue as Solana’s network effects grow stronger and its network performance improves even more. Solana’s low fees, low transaction latency, and high data throughput relative to other networks are highlighted as its key strengths.
Solana’s Market Performance
At the time of writing, SOL is trading at $143.34. The fifth-ranked crypto asset by market cap is up nearly 3% in the past 24 hours but down more than 22% in the past month. Despite the recent dip, Franklin Templeton remains optimistic about Solana’s future prospects.
Solana’s Potential in the Crypto Space
Franklin Templeton believes Solana is “uniquely qualified” to serve as the focal point of adoption for several sectors in the crypto space, including decentralized physical infrastructure (DePIN), payments, compression non-fungible tokens (NFTs), and centralized limit order books (CLOBs). The firm also anticipates a surge in Solana network activity in the coming months due to potential airdrops and the resurgence of memecoin mania.
Conclusion
Franklin Templeton’s prediction for Solana underscores the growing recognition of the crypto asset’s potential. As Solana continues to strengthen its network and expand its reach into various sectors of the crypto space, it is poised to establish itself as a major player in the crypto market.
