Multicoin Capital co-founder Kyle Samani 再次提出“flip theory”: he believes that the $SOL market cap will overtake $ETH in this cycle, arguing that Solana is easier to use, has stronger functionality, and that crypto enterprises will therefore prioritize it; he even said, “Nowadays, almost no one truly uses Ethereum,” and that Ethereum’s top position is mainly supported by stablecoins and stablecoins borrowed using ETH as collateral.
The data is certainly interesting: DefiLlama shows that over the past 30 days, Solana’s transaction fee revenue was about $23 million, ranking fourth; Ethereum was about $12.6 million, ranking sixth.
However, whether short-term fee revenue can equate to long-term value capture remains a key point of debate. Ethereum still has an L2 ecosystem, asset settlement and burn mechanisms, while Solana continues to push forward in high-frequency applications and user experience. Do you think this cycle will truly bring about a “flip”?
#Solana #Ethereum
The data is certainly interesting: DefiLlama shows that over the past 30 days, Solana’s transaction fee revenue was about $23 million, ranking fourth; Ethereum was about $12.6 million, ranking sixth.
However, whether short-term fee revenue can equate to long-term value capture remains a key point of debate. Ethereum still has an L2 ecosystem, asset settlement and burn mechanisms, while Solana continues to push forward in high-frequency applications and user experience. Do you think this cycle will truly bring about a “flip”?
#Solana #Ethereum