According to ChainCatcher news and The Block report, Kyle Samani, co-founder and managing partner of Multicoin Capital, stated in an interview with The Block that Multicoin Capital is actively expanding its investments in DeFi applications, particularly within the Solana ecosystem, which has outperformed Ethereum and Layer 2 ecosystems on key chain metrics this year. "We expect this trend to continue, as more users, capital, issuance, and activity migrate to the Solana ecosystem, Solana-based applications and protocols will emerge as big winners in the next cycle."
Samani also pointed out that Ethereum will face ongoing challenges and may even "fall into a long-term decline," as it faces fierce competition from Solana and other faster and cheaper blockchains. He added, "Unless Ethereum can enhance its competitiveness, developers, users, and capital will turn to other chains that better meet their needs."
Furthermore, Multicoin is optimistic about stablecoins, with Samani viewing them as "potentially one of the greatest technological and financial innovations of our lifetime." He stated, "Stablecoins have the opportunity to become giants by 2025, as everyone in the world craves dollars, and stablecoins are the most efficient way to obtain dollars. The design space is vast, and we are still in the early stages of the adoption curve."
