The investment firm predicts that SOL could soon reach $900 and $2,000 in the medium term as tokenization progresses.
Solana’s SOL token could reach $6,000 in the long term, according to a new report from investment firm RockawayX, which says blockchain is becoming the leading platform for digital finance and tokenized assets.
According to DeFiLlama, Solana is currently the second largest blockchain with more than $13 billion in total value locked (TVL). Its native token, SOL, is currently priced at $195.70, up 25% over the past year, making it the sixth largest digital asset with a market cap of over $107 billion, according to CoinGecko.
RockawayX, which manages about $2 billion and is an early investor in Solana, expects SOL to reach $900 in the short term (consistent with Ethereum’s market cap of about $0.5 trillion) and $2,000 in the medium term. The company says it could reach $6,000 in the long term (driven by $10-15 trillion in capital). Tokenized assets or protocol revenues of $100-150 billion).
At $6,000, SOL’s market cap would be approximately $3.2 trillion. For comparison, the market capitalization of Bitcoin, the largest digital asset, is $2.2 trillion.
The company notes that the value of tokenized assets has already exceeded $300 billion and could increase to $18.9 trillion by 2033. With global asset value exceeding $600 trillion, even small on-chain shifts have the potential to create trillions of dollars in new value and fuel the growth of the Solana ecosystem and tokens, the company said.
We also highlight how Solana processes over 100 million transactions per day, more than all other blockchains combined. Solana also supports over $15.5 billion in stablecoins, $4.6 billion in tokenized real estate via Parcl, and 97% of all tokenized stock transactions since the launch of xStocks in June.
xStocks is a Solana-based platform for tokenized US stocks developed by Backed. Recently, the on-chain value exceeded $1 billion.
While the company expects Solana to dominate Real World Asset (RWA) tokenization, Ethereum currently leads by far with a 57.2% market share, according to RWAxyz data. Meanwhile, Mitrade estimates that this number is as high as 83.7%.
However, RockawayX claims that Solana’s speed, low fees, and scalability give it a distinct advantage in tokenized finance and “internet capital markets,” which the company defines as “borderless, 24/7 financial markets for any asset class.”
“In this new paradigm, Solana has emerged as the premier blockchain infrastructure for digital finance,” the report says. “Solana provides the foundation needed to enable Internet capital markets with unparalleled speed at scale, very low fees, and a unified architecture.”
The report also points to increased usage by large companies such as Visa, PayPal, Franklin Templeton, Société Générale, Apollo, and BlackRock, all of whom are building or offering tokenized products on top of Solana.
Additionally, Solana’s average staking yield is around 7%, more than double Ethereum’s 3%, the report notes. Approximately 68% of SOL’s total supply is currently staked, which equates to approximately 372 million tokens (worth $74.5 billion).