Multicoin Co-founder Kyle Samani: SOL Market Cap Will Surpass ETH in the Future
Article is form Jinse
September 19, 2024
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Multicoin Capital Predicts Solana Will Surpass Ethereum:
At the Token2049 conference on September 19th, Kyle Samani, co-founder of Multicoin Capital, delivered a keynote speech titled "Why SOL Will Flip ETH," arguing that Solana's market capitalization will eventually surpass Ethereum's. He provided the following reasons:
- Ethereum's Rollup-centric scaling strategy prevents it from capturing value. Approximately 80% of transactions have shifted to Layer 2s, which continuously issue their own tokens without aligning with the Ethereum L1 mainnet.
- Ethereum faces an identity crisis and dilemma. Solana, on the other hand, envisions itself as a decentralized Nasdaq, offering structural advantages over Ethereum such as token scaling, Firedancer clients, and hardware expansion.
- Solana has achieved parity with Ethereum in key chain metrics. It's now competitive in areas like DEX trading volume, MEV, and stablecoin usage. The SOL/ETH exchange rate continues to rise.
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