The rivalry between Ethereum vs Solana has become more fervent after Solana reached crucial milestones in recent months. Recently, cryptocurrency managed to surpass BNB in market capitalization, in addition to rising to the top 3 in the DeFi ranking.
To comment on the two blockchains, cryptocurrency influencer Anthony Pompliano recently interviewed BitMEX co-founder and former CEO Arthur Hayes. When asked about the ETH vs. SOL, the billionaire emphasized: “I don’t think anything will be ETH.”
“If you think about the primitives of DeFi and dApps, the first version is always on Ethereum. Not on Solana, AVAX, Cardano or any other blockchain. "
However, the co-founder of BitMEX highlighted the motivation for DeFi applications to migrate to other networks, such as Solana. “Maybe there are reasons like network bloat, gas fees; then they move to Solana or other networks.”
“But you are not seeing a new primitive emerge first on a non-ETH chain. If I start to see this happen, I may have to change my mind about my maximalist stance on ETH.”
Still on the occasion, Hayes commented that he trades the majority of L1s, however, he placed Solana as a great opportunity for investors who missed out on cheap Ethereum trading.
“Solana is a better version of ETH; I disagree, but that's what they believe. It could trade between $5 and $10 this cycle. So buying it at $140 is a huge asymmetric risk profile.
The incredible @CryptoHayes join us today.
– Bitcoin ETFs
– Memecoins
– Death of 60/40 portfolio
– Nation state game theory
– Microstrategy
– ETH vs SOL
– Current portfolio
– His best investment ever
– Bitcoin to $1 millionFull episode on X.
LISTEN: https://t.co/GMHrYbNEn6 pic.twitter.com/EqOQ1NLEiU
- Pump 🌪 (@APompliano) March 18, 2024
Solana Outperforms Binance Coin and Challenges Ethereum in the Cryptocurrency Market
In a notable development in the cryptocurrency space, Solana (SOL) surpassed Binance Coin (BNB), assuming the position of fourth largest cryptocurrency in terms of market capitalization, on March 18. At the time of publication, the solana price (SOL) was quoted at US$ 181,67, down 12.3% in the last 24 hours.
This achievement signals a turning point, with Solana's market cap reaching a staggering $92 billion, surpassing BNB's $87,6 billion. This change occurs in a context of broad market recovery, with the price of Solana climbing to US$201, a 40% jump in the last week.
