 ▲ Solana (SOL), Ethereum (ETH) |
Analysts at cryptocurrency hedge fund Pantera Capital believe Solana (SOL) could soon steal market share from Ethereum (ETH) and other layer 1 competitors.
According to Daily Issues, a cryptocurrency media outlet, on the 19th (local time), Pantera analysts Franklin B., Cosmo Jang, and Eric Wallach said in their latest blockchain letter that Solana's monolithic architecture is significantly different from that of other blockchain projects. He said it provides an advantage.
They said, "Solana has advantages in terms of user design optimization, development convenience, and security. Private investor adoption and developers are flocking to build applications, the ecosystem is expanding, and the future is expected to be positive. The number of tokens issued and decentralized exchanges ( DEX) growth and staking rewards are also attractive cases,” he emphasized.
He added, “Solana’s structural advantages are accelerating its rise as a competitor to Ethereum, capturing a significant portion of new demand flowing into the blockchain industry.”
Solana (SOL), the 5th largest cryptocurrency by market capitalization, is trading at $135.79 as of 7:01 am on the 20th (Korean time), down 1.51% from 24 hours ago and 12.47% from a week ago, respectively, based on CoinMarketCap. At the same time, Ethereum is trading at $3,570, up 2.85%.
Despite the recent decline in Solana's price, Raoul Pal, a famous macro investor and CEO of Real Vision, gave a rosy outlook for Solana.
On the 18th (local time) through .
He argued that the current price drop could be a good buying opportunity for investors looking to increase their Solana holdings.
