Solana (SOL) is emerging as a serious competitor to Ethereum (ETH), with a growth trajectory similar to Ethereum’s early days. SOL has risen more than 4% in the past 24 hours and is currently trading at $138. User interest in it has increased significantly, with the number of daily active addresses reaching 39.3 million, far exceeding Ethereum’s 350,000.
Despite this, Ethereum still dominates decentralized finance (DeFi) with a TVL of $44.5 billion compared to Solana’s $4.6 billion. Solana’s DEX trading volume has grown significantly, even surpassing Ethereum last year.
Solana’s advantage lies in its lower transaction fees and its daily transaction volume is also significantly ahead. However, SOL’s market capitalization is still 4.6 times that of ETH, indicating that there is still a long way to go. Decline in development activity and market complacency may hinder its further growth, especially in the context of Ethereum’s upcoming comprehensive upgrade. Overall, Solana needs to continue to push the boundaries of its platform if it is to surpass Ethereum.
Public account: Pumpkin Strategy (early review strategy analysis of Bitcoin BTC and Ethereum eth every Monday to Saturday, long-term recommendation of high-quality individual coins and live broadcast analysis, occasional sharing only pay Mima)
