Bitwise CIO Matt Hougan believes Solana is in a favorable position, offering two potential growth paths. As the stablecoin and tokenization markets expand, Solana could benefit in two key ways :
- Increased Market Share: Solana might capture a larger share of the growing stablecoin and tokenization markets.
- Growth of Tokenization: The tokenization market's potential blow-up could drive SOL's value up.
Hougan draws comparisons to Bitcoin, noting that if Solana captures a larger market share, its value could surge. With Western Union launching a stablecoin on Solana in 2026 and the recent launch of the Bitwise Solana ETF, institutional adoption is on the rise. Solana currently accounts for 14% of the $768 billion market capitalization held by Layer 1 blockchains, with Ethereum leading at a significant margin .