The crypto community may have reasons to look on the bright side as it concerns Ethereum (ETH) rival Solana (SOL).
According to a VanEck research that was published a few days ago, SOL price has the potential to skyrocket but only if certain conditions are met. The research and resulting prediction were made concerning ETH, however, Matthew Sigel, the head of VanEck’s digital asset research extended the positivity to Solana.
Based on the VanEck forecast, Ether could reach $51,000 by 2030 in the case of a bull run but on the condition that it is widely embraced by different business sectors.
The estimate was made on the assumption that ETH becomes the most dominant open-source global settlement network. In this position, Ethereum gets to host a sizable portion of the commercial activities of numerous business sectors and will. Therefore, have the highest chance of gaining from moving their business functions to public blockchains.
The plan also includes owning a collection of call options in the case of a portfolio of similar smart contract platforms. In the end, the dominant platform is more likely to take a majority market share.
On the other hand, if ETH does not attain the position of top dominance or smart contract platform with only 15 percent dominance, this would translate to a bear market and leave the price of the altcoin at a low of $343.29 in the next seven years. VanEck also noted that if things go well for ETH, it could have a base case price target of $11,848.62.
Solana Bull Run Comes With a Higher Risk Profile
In his interview with Bankless, Sigel confidently set SOL on a bullish pedestal; he, however, emphasized that it would have a higher risk profile compared to ETH.