Franklin Templeton, Bitcoin ETF Issuer, Shows Bullish Outlook on Solana (SOL) and Predicts it to Become the 3rd Largest Cryptocurrency

Following the recent crypto market crash in November 2022, which led to the collapse of FTX and other companies, Solana (SOL) has stood out as a top performer, with a year-to-date price increase of over 560%. With a market capitalization of $67 billion, Solana now ranks as the fifth largest cryptocurrency, behind Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Tether’s USDT stablecoin.

Despite its impressive growth, asset management firm Franklin Templeton foresees further expansion for Solana as the bull market continues to unfold. A recent report from the firm highlights Solana’s strong potential to capture the next wave of crypto adoption, solidifying its position in the market alongside Bitcoin and Ethereum.

The report points to several key factors driving Solana’s growth, including accelerated activity in the crypto industry, major airdrops within the Solana ecosystem, and the creation and trading of meme coins like Jito, Pyth, Bonk (BONK), and Dogwifhat (WIF).

With the network’s low fees, transaction speed, and high throughput, Solana is poised to continue its growth trajectory and capture upcoming trends in the crypto space. Franklin Templeton suggests that Solana could play a significant role in the future of the industry, with additional airdrops expected in the coming months to further enhance the ecosystem’s wealth effect.

As meme coin activity on the Solana network continues to gain traction, the bullish sentiment surrounding the cryptocurrency and its ecosystem is on the rise. Solana’s price has seen a 21% increase in the last seven days, as it attempts to consolidate above the $150 level.

Overall, Solana’s impressive performance and potential for future growth make it a key player to watch in the crypto space. Crypto investors are advised to conduct their own research and understand the risks involved before making any investment decisions. Source:

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