Investment management firm VanEck maintains a bullish outlook on Solana (SOL), forecasting that the coin can hit a price target of $3,211.28 in the next seven years.

Realistically, VanEck projected a base price of $335 for Solana. Accounting for potential negative trends, the asset manager said its bear case projection for Solana in 2030 is $10.

Solana in 2030: VanEck’s Perspective

The report on Solana assumed that the blockchain network would be the first to onboard 100 million users by 2030. The VanEck team also gave these price projections on assumptions that Solana will monetize its offerings at 20% of Ethereum’s “take rate.” Take rate refers to fees collected from applications associated with the brand.

While Solana has deep prospects, the price target and overall performance place no focus on it displacing Ethereum as many anticipate.

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Notably, VanEck assumed that the varying ecosystem philosophies Solana and Ethereum share will make the former achieve less than half of the latter’s market share by 2030.

Besides the massive price projection, VanEck predicts Solana holders have the likelihood of raking in $8 billion in revenue by 2030. VanEck’s bullish stance on Solana stems from its analysis of the usability of the protocol, and its data throughput of 125 MB/S, which dwarfs Ethereum’s 0.08 MB/S.

Overall, VanEck’s optimism hinges on the innovations associated with the protocol. The debut of its mobile phone Saga as well as its growing developer market share compared to newer rivals like Aptos and Sui, strengthened the firm’s price projection.

Bolstering VanEck’s Solana Prediction

Besides the optimism of VanEck on Solana, a popular AI app, ChatGPT also projected bullishness for Solana. It is worth noting that the embrace of Solana by market whales also lends optimism to its potential in the short and long terms.

At press time, Solana’s price remains at $32.43, up 0.16% overnight. The coin’s market cap is up 0.04% to $13.6 billion.