Ethereum And Solana Price Predictions According To Vaneck's Research Department

ETH and SOL price predictions according to VanEck's digital asset research. (Photo; Doc. Bitcoinsystemy)

JAKARTA The recovery of the crypto market shows public positive sentiment towards digital assets. A number of cryptocurrencies have seen a significant increase in recent days, including Ethereum (ETH) and Solana (SOL).

The two crypto assets are predicted to rise based on the research results of the asset management company from the United States, VanEck. VanEck's digital asset research department released its research report last week regarding the price of Ethereum crypto assets by 2030.

According to VanEck's research department predictions, Ethereum has the potential to be massively adopted by various business sectors. VanEck puts ETH at a price of 51,000 US dollars (equivalent to Rp763 million) in a bull case, as reported by DailyHodl.

"We base this estimate on the thesis that Ethereum is the dominant open-source global settlement network that hosts most of the business sector's commercial activities with the highest potential to benefit from moving their business functions to public blockchain," the VanEck Research Department said.

In an assessment of the smart-contract platform portfolio, VanEck's Matthew Sigel stated his assumption that they would have a number of call options on those platforms.

Call option is a financial contract that gives holders the right to buy certain assets at a predetermined price within a certain period of time. Sigel also stressed that the dominant platform in the industry will most likely dominate the majority market share.

This statement reflects VanEck's view of the smart-contract platform market, which is an important part of the blockchain ecosystem. In their portfolio, VanEck anticipates taking advantage of the potential growth and advantages of these platforms.

In an interview with Bankless, Matthew Sigel, VanEck's Head of Digital Asset Research, said the same view could be used for Solana, but with a higher risk profile.

"In terms of the positive side, once you overlay our top two assumptions about penetration rates, and then if you assume that Solana takes 70 percent of all open-source blockchain activity, the positive side becomes much higher, but with a much higher level of risk too," said Sigel.

On the other hand, Matthew Sigel expressed his concern about Solana, a popular blockchain platform today. According to Sigel, there is a centralization problem in Solana that can cause uncertainty in the system.

One of the problems is the high MEV (miner extracted value), which is the percentage of income extracted by miners, which is larger than the legitimate income. Sigel also noted that there are few participants who are actively extracting value in Solana, which could disrupt the network.

Although Solana and tokens like ATOM offer huge profit potential, Sigel revealed that VanEck has a smaller position in Solana due to uncertainty regarding this issue. Currently, Solana's price is at the level of IDR 310 thousand per coin. Then, Ether is trading at IDR 28 million based on Coinecko data today.