Franklin Templeton’s digital asset arm recently took to X and shared that there are other projects, besides Bitcoin and Ethereum, that will drive the crypto space forward. The asset manager named Solana (SOL) as one such project. According to Franklin Templeton Digital Assets, SOL “has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures.“
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The SOL network has shown incredible growth and resilience over the last few years. The network is already faster than the Ethereum network. The SOL network can handle 2,600 transactions per second, compared to ETH’s 15 transactions per second. Many analysts already anticipate SOL to eventually overtake ETH as the second-largest crypto project.
How high can Solana go in 2024?
SOL has made significant gains in the last two years. The asset witnessed a bloodbath after the collapse of FTX in November 2022. The asset’s price fell to below $10. Since its 2022 lows, SOL has made quite a comeback, briefly reclaiming the $200 mark earlier this year.
According to Changelly, Solana will reclaim the $200 mark in mid-August. The platform also predicts SOL to hit a maximum price of $217.81 in 2024. Hitting $217.81 from current levels will entail a rally of about 22.6%.
Also Read: Solana: Analysts Target $500 Amid SOL’s 32% Rally
Telegaon is more bullish on SOL, predicting the asset to hit a maximum price of $305.16 this year. Reaching $305.16 from current levels would translate to a rally of about 72%.
There is also a lot of talk about a potential Solana ETF making a debut. The authorities are yet to approve a SOL ETF, but if it is greenlit, we may witness a significant price spike for the token.