Solana has become a recent -only outperformer in major cryptos – leading 24% last month – but it can only be precursor at a epic end of the year, Bitwise CIO Matt Hougan wrote.
“In the last 18 months, the recipe for strong return to crypto has become clear,” Hougs said. “Get a part ETP inflows, add strong corporate treasury purchases, and voilà – you’re getting a big return.”
Hougan reminds us that the “recipe” has sent Bitcoin from $ 40,000 to the current level and ether than travel, and the same aspup forms around the Sol.
Seven main manager owners – including Bitwise itself, next to Grayscale, Fidelity, and Vaneck – filed to launch the areas Solana ETP. The US Securities and Exchange Commission is due to managing them on October 10. If even some are approved, investors and institutional investors can buy Sol the same way they want stock.
That’s not just the tail, Hougan says. This past weekend, a former quietly exchanged public microcap, forward industries (Ford)It is announced that it raised $ 1.65 billion from the heavyweights Galaxy Digital, Jump Crypto, and Multicoin Capital.
The company’s playbook is simple: buy a sol, stake it, and produce yield-which makes Solana itself in a revenue that generates revenue on a public sheet of balance. At the helmet is Kyle Samani, a multicoin co-founder and one of Solana’s first champions.
Hougan likens Samani to the Michael Saylor of Bitcoin or Tom Lee of Ethereum – visible, voice, and capable of becoming a technical narrative on a major headline. However, Solana needs to earn attention.
Its pitch is speed. Unlike Ethereum, which uses additional layers to measure, Solana runs everything in a chain. A new upgrade – as soon as possible to survive – will be the time of the end of the transaction from 12 seconds to 150 milliseconds. Transaction fees remain under one cent.
The gains were with the tradeoffs, Hougan allowed. Solana’s critics argue that its structure is more centralized than other blockchains, who potentially leave it exposed to network failures. Supporters support only the chain fast and inexpensive enough to support high-volume use cases-such as tokenized assets or stablecoins-on a global size.
And growth occurs. Solana is now third in Stablecoin Liquidity and fourth to tokenized assets, with asset volume up to 140% this year, Hougs said.
Then there is its size. With a market cap of $ 116 billion, Solana is still a small fish compared to Bitcoin’s $ 2.2 trillion or $ 519 billion of Ethereum. This means that smaller flows can move the needle in a larger way. According to Hougan, Forward Industries’ $ 1.65 billion could have the same effect on SOL as a $ 33 billion investment in BTC.
That’s why he’s watching closely. “My suggestion?” HOUSANG wrote. “Keep your eyes on Solana.”
