Solana vs Ethereum: New Trend Emerges, Solana Has the Potential to Seriously Compete with Ethereum
2024-10-04
Bittime - Solana has the potential to rival Ethereum with the support of large financial institutions such as Franklin Templeton and its scalability advantages.
However, Ethereum remains dominant in the asset tokenization and stablecoin markets, with challenges to Solana coming from critics such as Edward Snowden. Read more!
Solana Has The Potential to Compete with Ethereum
The Swiss crypto bank stated that in the long term, financial institutions that choose to launch real-world asset and stablecoin tokenization platforms on Solana could position their blockchains to seriously challenge Ethereum.
According to a report issued by Sygnum Bank on October 1, there are indications that even “conservative institutions” may prefer Solana's scalability to Ethereum's stability and security advantages.
Plan to Launch Mutual Funds on Solana
Plans to launch mutual funds in Solana were also announced by Franklin Templeton, a trillion-dollar asset manager.
Citi stated that it is considering Solana for cross-border payments, according to signum.
Memecoin Issuance Has Big Impact
Additionally, Sygnum stated that issuing and trading memecoins account for a large portion of the network's revenue, and some of Solana's volume metrics are overstated.
Whistleblower, or whistleblower, Edward Snowden, former American intelligence contractor and whistleblower.
It recently criticized Solana for being too focused, stating that “anything significant” being built on the network could easily be disrupted “if countries start moving in that direction.”
Read Also: Solana Founder Criticizes Biden Administration Amid Crypto Regulatory Uncertainty
Ethereum Dominate the Market
According to on-chain data, Ethereum Price still dominates the real-world asset tokenization and stablecoin markets, with market shares of 81% and 49% respectively. Solana has a market share of less than 3%.
Although Ethereum's technical roadmap confuses many, Sygnum believes Ether makes more sense for traditional investors than Bitcoin.
Conclusion
With support from large financial institutions such as Franklin Templeton, which plans to launch mutual funds on its network.
Solana is expected to challenge Ethereum's dominance in the real-world asset tokenization and stablecoin industry.
According to Sygnum Bank, conservative institutions looking for a more efficient blockchain solution may be attracted to Solana's scalability advantages.
However, Ethereum continues to dominate the market, with tokenization of assets and stablecoins accounting for 81% and 49%, respectively.
Solana continues to show growth potential, especially in the memecoin publishing industry, although some have criticized it for being too focused, such as Edward Snowden.
Although Ethereum's technical roadmap is confusing, traditional investors find it more stable and reasonable.
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