According to a venture capitalist who accurately predicted the 2022 crypto bottom, there’s a potential Ethereum rival that could perform better than the leading smart contract platform.
Placeholder Capital’s founder, Chris Burniske, shared on social media platform X that Solana (SOL) seems ready to outperform the top altcoin during the next risk expansion in crypto markets. Check out the latest reports about this below.
ETH vs. SOL
Burniske examined the SOL/ETH pair and noted that Solana has already regained the 0.01 ETH level and could reach 0.02 ETH in the next impulse.
“SOL: 0.01 ETH reclaimed first, 0.02 ETH on the next big risk expansion?”
A seasoned cryptocurrency investor has made a prediction, clarifying that it is not a criticism of Ethereum. He believes that both Ethereum and Solana have good potential for growth.
He emphasized that he has been supporting both Bitcoin and Ethereum despite pushback from Bitcoin enthusiasts.
According to him, Solana is showing promising signs of a resurgence due to its lower transaction fees and increased transaction capacity.
He noted that Solana’s quiet product launches, upgraded functionality, lower fees, and higher throughput are all indications of a new product cycle.
It is worth noting that Solana has experienced a significant drop from its peak of $259.24 in November 2021 to its current price of $19.45, representing a 92.5% decline.
Ethereum in the news
A market analyst at Bloomberg Intelligence predicts that Ethereum (ETH) will be the winner in the stablecoin competition.
Jamie Coutts shared their opinion on a social media platform, stating that Ethereum, along with its ecosystem of layer-2 projects such as Optimism (OP), Base, and Arbitrum (ARB), outperforms all other networks in terms of network adoption metrics.
However, Coutts notes that transferring Tether (USDT), the most valuable stablecoin by market cap, is more expensive on Ethereum than other networks, particularly layer-2s.
To learn more about this, we suggest that you check out the complete previous article.
