Kyle Samani, co-founder of Multicoin Capital, predicted that Solana's market value will exceed Ethereum, and three reasons supported his view, but was refuted by Ryan Berckmans, a member of the Ethereum community.
Samani said at the Token2049 conference that Solana's ecosystem is active and SOL's market value is expected to exceed Ethereum in the future. The reasons are as follows:
Ethereum transactions are transferred to Layer2, making it difficult for ETH to capture transaction value. Solana's on-chain transaction volume is sometimes higher than Ethereum, and the two sides are currently basically the same. Solana's token expansion meets institutional needs, which is difficult for Ethereum to achieve.
Ryan Berckmans immediately tweeted a rebuttal, saying that Samani misled the audience, exaggerated, and asserted that Solana could not surpass Ethereum:
Layer2 fee recovery is inevitable, and fragmentation is not harmful to DeFi, but promotes development. Samani ignored Ethereum Layer2 data when comparing DEX transaction volumes. Solana's so-called structural advantages, such as token expansion and hardware expansion, are also developing in Ethereum, and the Firedancer upgrade has not met the promised standards.
Ryan pointed out that Solana's real advantage lies in centralization and vertical integration, and its application layer is highly aggressive, but Samani exaggerated and did not mention structural disadvantages, such as TPS is far from the promised 50,000 transactions.
Ryan asserted: "Sol will never surpass ETH. Solana is in its prime, but the fastest L2 will be faster, and Solana's speed and cost advantages will disappear. By then, the L2 model will be recognized and bring huge value to ETH."
