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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Neither Bitcoin Cash nor Litecoin! According to Famous Analyst, This Could Make Altcoin Investor Smile!
A crypto-focused crypto analyst noted that Solana (SOL), which has been cited as a competitor and even killer of the largest altcoin Ethereum (ETH), still has all the requirements it must meet to compete with the best smart contract platform, noting that for the leading altcoin made statements.
Question Marks in the Analyst's Head
In his latest video, he claimed that the market cap of ETH is 40 times higher than SOL, but it is questionable whether the largest altcoin is really 40 times better than Solana.
The crypto analyst said, “Ethereum is 40 times more valuable than Solana. The market capitalization is 40 times larger and this figure is much higher when the market value of all Layer 2s (Optimism, Matic, Arbitrum etc.) is included. It is about 50 times larger. The real question to ask here is whether all these numbers make sense. My view is that my eighth position is four times larger than my Solana position and my Bitcoin position is four times larger than my ETH position. This will give you an idea of how I structured things. If the Solana project can survive and it will have better, cheaper, faster, more scaled and more dApps (decentralized applications). If there is no Solana killer, based on this data, Ethereum could be a serious competitor.” explained in his words.
Analyst Predicts A Future Where Solana Doesn't Die
While the analyst still thinks Ethereum is the smart contract platform of the future, he believes Solana can establish its own niche and survive in the face of strong competition in the market:
I think the future will be very simple. There will be a consumer chain that also manages large businesses such as a cryptocurrency exchange. Unlike the biggest cryptocurrency Bitcoin, we will have Ethereum as a big, powerful Blockchain that can do big heavy transactions. Either way, Solana will still be there, standing.
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