According to analysts at the asset management firm VanEck, Solana (SOL), a rival of Ethereum (ETH), could reach $520 by the end of 2025. As of the time of writing, SOL is trading at $191.43, indicating a potential increase of over 171%. VanEck crypto researchers Matthew Sigel and Patrick Bush base their prediction on Solana’s projected market share within the smart contract platform (SCP) market by the end of the year. The researchers also consider the growth of M2 money supply, which has shown a correlation to the crypto market cap. M2 measures cash, checking accounts, and other deposits that are easily convertible to cash. Sigel and Bush explain that they project M2 to reach $22.3 trillion by the end of 2025, with a 3.2% annualized growth rate. Using regression analysis, they estimate that the total SCP market capitalization will grow by 43% to $1.1 trillion by the end of 2025, surpassing its 2021 peak. Historical data shows a strong correlation between M2 and SCP market cap. Currently, Solana holds 15% of the SCP market cap, but the researchers forecast that its share will rise to 22% by the end of 2025. This projection is supported by Solana’s developer dominance, increasing market share in decentralized exchange (DEX) volumes, revenues, and active users. Using an autoregressive (AR) forecast model, they estimate that Solana’s market cap will reach approximately $250 billion, leading to a projected SOL price of $520 based on approximately 486 million floating tokens.