1 Unstoppable Cryptocurrency That Could Join Bitcoin in the $1 Trillion Club
Yahoo Finance ·
Bitcoin remains the only cryptocurrency that has ever hit a $1 trillion market cap. Today, Bitcoin has a market cap of $1.6 trillion, roughly on par with Tesla 's or Meta Platforms '. While a number of cryptocurrencies have been talked about as potential entrants to the $1 trillion club, the one I have my eye on right now is Solana ( SOL -6.46% ) . Here's why. Right now, Solana has a market cap of $54 billion. For the sake of argument, let's call this $50 billion. So, for Solana to become a $1 trillion digital asset, it would need to increase in value by roughly 20x. Given Solana's current price of $90, that works out to a future price of approximately $1,800. That's obviously a stretch goal, but it's within the realm of possibility. As a smart contract platform with a highly diversified blockchain ecosystem, Solana has several pathways to a trillion-dollar market cap. If you assume Solana hits $1 trillion in market cap, you should also expect it to eventually supplant Ethereum ( ETH -8.53% ) as the top Layer-1 blockchain network. That's how Solana gets to a $300 billion valuation, which is the current value of Ethereum . From there, Solana needs to continue eating Ethereum's lunch in key areas such as decentralized finance (DeFi) , and it needs to keep winning over users and developers with its faster speeds and lower costs.
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