👀 ONE coin with 8,350% upside

GM everyone. This is 2036. We scroll for gems all day so you don’t have to.

Here’s what we’re serving up today 🍲: In the last week, bitcoin and Ether have been relatively stable. But one large coin is soaring 🚀. And according to a large asset manager - it has another 8,350% upside.

Let’s dig in.

We love to see traditional companies enter the crypto space.

Blackrock’s Larry Fink used to call crypto ‘an index of money laundering.’ Now, he calls it an international high-quality asset.

At the height of the last cycle, big brands like Meta & Pepsi joined in on the Web3/NFT/metaverse craze with peak cringe content on Twitter:

[In hindsight, this was a great call. Markets peaked exactly around that time].

So sometimes, companies try too hard.

But other times - they’re insane… and we kinda like it.

Like VanEck, an asset manager with $76 Billion in assets under management.

They recently hired a surprisingly good intern to manage their Twitter presence… and have gone all in on crypto:

VanEck has filed for a Bitcoin ETF. But they’re spreading their wings into altcoins too.

This week, they published their base, bear, and bull cases for Solana.

And I’ll give them one thing - the report is perfectly well-timed 👌.

Sentiment for SOL is at a multi-year high.

This week is also Solana Breakpoint - the annual Solana conference, where Solana announced that Firedancer, their new software upgrade, can process ONE MILLION transactions per second.

In case you’re not sure - that’s a lot. Ethereum only does around 30.

On top of that, the price of SOL is ripping. At $38, it’s up +23% in the last 7 days.

But VanEck thinks Solana could go much higher than that.

In their bull case scenario - in which all stars align for Solana - the price of one SOL could rise to $3,211 by 2030.

That’s an 8,350% upside to today’s price 👀

They estimate that if all goes well, Solana could be one of the first blockchains to bring 100 million users to crypto and capture a chunk of the revenue that’ll generate.

To give you some context, their bull case price for ETH is $51,006 by 2030 - roughly 27X from here.

[You can read the full Solana report here]

Now - when everyone turns super bullish, it’s time to pause and reflect (said Mark Twain about crypto).

Remember, the key is to buy crypto when it’s low and sell when it’s high.

We wrote about Solana at $14 in June as an ‘obvious buying opportunity.’

But Solana was also the darling coin of now-disgraced FTX founder Sam Bankman-Fried. And the FTX estate is sitting on ∼$2 BILLION of SOL that needs to be liquidated.

Galaxy, the company in charge of the liquidation, got approval to sell SOL on behalf of the FTX estate in September.

And it has a fiduciary responsibility to sell SOL at the highest price possible. It’s possible that moment is now - or soon.

$2 billion in selling pressure would probably affect the price in the short term.

On top of that, the best traders on Binance are mostly long BTC and short Solana.

We’ll let you decide what that means for you.

But it’s possible that Solana could see some volatility in the next couple of weeks.

In the long term, however, if Van Eck is right - Solana could have a very bright future.

We’ll keep monitoring the SOL opportunity for you.

NOTE: Since Lido has discontinued SOL staking, you can stake your SOL on Jiro for a 6.8% annual yield.

1/ Crypto winter is over

2/ In a mysterious move, SEC Chair Gary Gensler says happy anniversary to Bitcoin’s Whitepaper