$1.64 trillion Franklin Templeton reveals its favored cryptocurrency 
Cryptocurrency Jul 25, 2024 Share
Through the chills of the crypto winter of 2022, great moves toward cryptocurrency adoption were taking place, with major blockchain companies advocating for digital assets and major institutional investors moving into position to enter the crypto markets.
By 2024 and the spectacular restarting of the bull cycle, major entities have moved toward greater adoption, particularly when it comes to Bitcoin (BTC), but one $1.64 trillion asset manager recently issued a reminder on X that the world of digital assets is far greater than its biggest coin.
Indeed, in a July 23 tweet, Franklin Templeton stated that along with BTC and Ethereum (ETH), the ecosystem is filled to the brim with exciting projects and singled out Solana (SOL) as its favorite saying:
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Besides Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward. Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures.
A long-standing Solana bull
Interestingly, July 2024 was not the first time Franklin Templeton spoke out in favor of Solana and other digital assets. Indeed, in January, the asset manager made a similar post stating that layer 1s other than BTC and ETH have great potential, and, again, it singled out SOL as one of the most promising projects.
Still, Franklin Templeton has not limited its involvement to only a single ecosystem and has, indeed, previously started supporting Ethereum and its network, saying that it sees ‘a bright future with many strong tailwinds to push the Ethereum ecosystem forward.’
We are excited about ETH and its ecosystem. Despite the midlife crisis it's recently experienced, we see a bright future with many strong tailwinds to push the Ethereum ecosystem forward
-EIP 4844
-Alt DA
-Community Revitalization
-Restaking— Franklin Templeton (@FTI_US) January 17, 2024
Is 2024 the biggest year for crypto adoption so far?
Though various more traditional firms have been engaging with cryptocurrencies for years, 2024 has in particular seen great strides toward the acceptance and adoption of digital assets.
Perhaps the biggest testament to this has been the regulatory approval of spot cryptocurrency exchange-traded funds (ETFs). In January, the Securities and Exchange Commission (SEC) has, after years of failed applications, approved the listing of nine spot BTC ETFs.
In July, the watchdog added to the momentum by approving ETH ETFs as well. For months, there has been widespread speculation that Solana will be the next crypto to receive a fund approval.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
