Solana Will Join Bitcoin and Ethereum as Top Crypto Assets, Predicts $1.6 Trillion Asset Manager

Franklin Templeton, a global investment firm with $1.6 trillion under management, has published a x.com/FTI_DA/status/1786049586152255659″ target=”_blank” rel=”noopener nofollow noreferrer”>report titled “Solana: Accelerated Adoption,” which predicts that Solana is positioned to become the third largest 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 cryptocurrency adoption, establishing itself as the third largest crypto asset after bitcoin (btc) and ethereum (eth) “.

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

“These airdrops created a wealth effect of over $1 billion in the ecosystem, boosting SOL and other Solana ecosystem tokens, especially meme coins,” the report states.

Analysts at Franklin Templeton note that Solana has seen a significant increase in total fees and decentralized exchange volumes over the past year, indicating strong growth.

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

The asset manager believes Solana is uniquely qualified to capture the next wave of adoption across several sectors, including decentralized physical infrastructure networks (DePIN), payments (especially micropayments), compression nfts (XNFT), and limit order books. centralized (CLOB) with payment flow per order.

While Solana has experienced congestion issues due to high demand, the developer community is actively working on solutions. A major catalyst that is expected to solve these problems is Firedancer, a Solana validation client developed by Jump crypto.

Franklin Templeton's growing interest in Solana, as seen in his tweets earlier this year, stems from the company's attraction to the vision of Solana co-founder Anatoly Yakovenko and the significant developments in the Solana ecosystem during the Q4 2023, including progress on decentralized prediction markets (DePIN). DeFi, meme coins, nft.