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The crypto SOL could experience a significant rise in 2025, driven by the anticipation of spot ETFs in the United States and the growing interest from retail investors, according to analysts. Despite a recent correction below $200, the fundamentals of Solana remain strong.
A momentum driven by retail investors
Nicolai Søndergaard, an analyst at Nansen, expressed his optimism for Solana during an exclusive interview at the Emergence Prague 2024 event.
Despite a recent correction that brought its price below $200, the analyst highlights the more affordable unit price of SOL, in comparison with Bitcoin ($93,260) and Ethereum ($3,289), as a key factor attracting new retail investors.
According to Søndergaard, this perception of accessibility, although erroneous in terms of market capitalization, should continue to appeal to retail investors. However, he emphasizes that this notion of ‘cheaper token’ reflects a common confusion among beginners, who prioritize unit price over total market capitalization.
With a current market capitalization of $92 billion, Solana remains far behind Ethereum ($397 billion) and Bitcoin ($1.8 trillion), but this leaves it significant room for growth.
This strategic positioning, combined with the remarkable technical performance of the Solana blockchain, is prompting more and more analysts to consider an ambitious price target of $400 for 2025.
Solana ETFs in sight
The market is eagerly awaiting the potential approval of the first Solana ETFs in the United States by the end of January 2025. No less than five major asset managers – VanEck, Grayscale, 21Shares, Bitwise, and Canary Capital – are in the running. Grayscale must submit its final application by January 23, while the SEC will make its first decision for the other candidates on January 25.
Brazil has already set a precedent by approving the first Solana ETF in the world on August 7. According to Søndergaard, a U.S. ETF would open access to SOL for many traditional investors who do not have accounts on centralized crypto platforms. “The question is no longer whether a Solana ETF will be approved in 2025, but rather when,” says the analyst from Nansen.
The year 2025 is therefore shaping up to be crucial for Solana, which could see its growth accelerate due to these two major catalysts: retail adoption and the probable arrival of spot ETFs. The ecosystem now seems mature enough to attract both retail and institutional investors.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
