Solana to join Bitcoin and Ethereum as top crypto assets, $1.6 trillion asset manager predicts

General

Franklin
Templeton,
a
global
investment
firm
managing
1.6
trillion
dollars,
has
released
a

report
titled
“Solana:
Accelerated
Adoption,”
which
predicts
that
Solana
is
positioned
to
become
the
third
major
crypto
asset
after
Bitcoin
and
Ethereum.

The
report
states,
“Our
view
is
that
Solana’s
growth
is
likely
to
continue
because
it
is
well
positioned
to
capture
the
next
wave
of
crypto
adoption,
solidifying
itself
as
the
third
major
crypto
asset
after
Bitcoin
(BTC)
and
Ethereum
(ETH).”

The
analysts
highlight
that
Solana
has
dominated
in
capturing
the
surge
of
crypto
activity
during
this
period,
particularly
driven
by
major
airdrops
in
the
Solana
ecosystem,
such
as
Jito
and
Pyth.

“These
airdrops
created
a
billion
dollar
plus
wealth
effect
in
the
ecosystem,
driving
SOL
and
other
Solana
ecosystem
tokens
higher,
especially
meme
coins,”
the
report
states.

Franklin
Templeton’s
analysts
point
out
that
Solana
has
seen
a
significant
increase
in
total
fees
and
decentralized
exchange
volumes
over
the
past
year,
indicating
strong
growth.

“In
the
past
year,
Solana
has
seen
significant
growth
demonstrated
through
an
increase
in
both
total
fees
and
DEX
volumes
on
the
network,”
the
report
mentions.

The
asset
manager
believes
that
Solana
is
uniquely
qualified
to
capture
the
next
wave
of
adoption
in
several
sectors,
including
decentralized
physical
infrastructure
networks
(DePIN),
payments
(especially
micropayments),
compression
NFTs
(XNFTs),
and
centralized
limit
order
books
(CLOBs)
with
payment-for-order-flow.

While
Solana
has
experienced
congestion
issues
due
to
high
demand,
the
developer
community
is
actively
working
on
solutions.
One
major
catalyst
expected
to
address
these
issues
is
Firedancer,
a
Solana
validator
client
developed
by
Jump
Crypto.

Franklin
Templeton’s
growing

interest
in
Solana,
as
seen
in
their
tweets
earlier
this
year,
stems
from
the
firm’s
attraction
to
Solana
co-founder
Anatoly
Yakovenko’s
vision
and
the
significant
developments
in
Solana’s
ecosystem
during
Q4
2023,
including
progress
in
decentralized
prediction
markets
(DePIN),
DeFi,
meme
coins,
NFTs.

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