21Shares: Solana to Outperform Ethereum with 89% Upside
Adrian Fritz, head of research at 21Shares, expects Solana (SOL) to outpace Ethereum (ETH) in 2024, forecasting an 89% rally from $178 to $337. He highlights Solana’s Proof-of-History consensus, low transaction fees and agile, business-focused developer community. Meanwhile, Ethereum may reach a new high but is unlikely to hit $10,000 this year, supported by Proto-Danksharding and Layer-2 upgrades. Robinhood’s planned Ethereum Layer-2 solution and Kraken’s tokenized stock product launch on Solana underscore growing institutional interest. Recent meme coin surges on Solana have boosted liquidity and network activity, though centralization concerns and past outages remain risks. Crypto traders may balance portfolios by combining Ethereum’s stability with Solana’s growth potential.
Bullish
21Shares’ forecast of an 89% rally underscores multiple bullish drivers for Solana, including its Proof-of-History consensus, minimal fees and a rapidly expanding developer ecosystem. The recent meme coin surge and institutional initiatives from Robinhood and Kraken are likely to boost short-term demand. Over the long term, Solana’s scalability and business-focused developer community support sustained growth. Compared to Ethereum’s more mature ecosystem, these factors position SOL for notable upside, justifying a bullish view.