Traders are bullish on Solana, seeing potential beyond Ethereum
In the cryptocurrency market, Ethereum has always been regarded as one of the leading blockchain platforms, but recently legendary trader Peter Brandt has a different view. He stated that he is more bullish on Solana than Ethereum and predicts that Solana will achieve a 100% increase in the price performance of Ethereum in the coming months.
Brandt shared a chart of Solana’s Ethereum (SOL/ETH) trading pair in a post, pointing out that Solana has begun to gradually recover after experiencing an initial decline and is expected to surpass Ethereum. He described Solana as the "clear winner" because it was more "user-friendly and fundamentally sound," while Ethereum fell short because it was "cumbersome, expensive, and flawed." Additionally, Brandt criticized Ethereum for claiming to be decentralized when in fact it is not.
Image source: Peter Brandt Peter Brandt pointed out that Solana has begun to gradually recover after experiencing an initial decline.
Binance invests in supporting Solana ecosystem
Solana’s potential is not only embraced by traders, but even Binance, one of the world’s largest cryptocurrency exchanges, has shown clear support for Solana. Binance Labs recently invested in Solayer, a restaking network built on Solana. Although the network went live just 60 days ago, it has quickly become one of the largest protocols on Solana, with over $150 million in total value locked and attracting over 70,000 unique deposit wallets.
Image source: Rootdata Binance Labs invests in re-staking network on Solana - Solayer
Binance’s move undoubtedly further solidifies Solana’s position as a serious contender. Since August 5, the Binance platform has attracted a whopping $2.4 billion in inflows, including $1.33 billion in $USDT and $519 million in $USDC, according to data from a Lookonchain analytics account. This massive inflow demonstrates the market’s confidence in Solana and its related projects.
Solana’s development potential is widely optimistic
Brandt has criticized Ethereum earlier, but as a trader, he does not completely deny the investment value of Ethereum. However, he stressed that Solana's advantages in user experience, infrastructure and expanded functionality may make it a more attractive investment in the long term.
As more investment institutions and trading platforms join Solana’s ecosystem, the potential and future development of this blockchain platform are receiving more and more attention. For investors looking for the next potential coin, Solana is certainly an option worth keeping an eye on. As Solana continues to develop, the market will be closely watching whether it can achieve the growth Brandt predicts and truly challenge Ethereum's leadership.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
