The anonymous host and crypto analyst from InvestAnswers, a YouTube channel focusing on cryptocurrency, has made striking remarks about Solana (SOL), often referred to as the killer of Ethereum (ETH), the biggest altcoin. He suggests that Solana possesses all the necessary attributes to compete with the best smart contract platform.
Doubts Swirl in the Analyst’s Mind
In his latest video, the anonymous host of InvestAnswers stated that ETH’s market value is 40 times higher than SOL’s. However, he expressed doubts about whether the largest altcoin is genuinely 40 times better than Solana.
The crypto analyst clarified his views saying, “Ethereum is 40 times more valuable than Solana. Its market value is 40 times larger, and this number increases significantly when the market value of all Layer 2s (Optimism, Matic, Arbitrum, etc.) is included, becoming roughly 50 times larger. The real question to be asked here is whether all these figures make sense. My opinion is that my eighth position is four times bigger than my Solana position, and my Bitcoin position is four times larger than my ETH position. This should give you an idea of how I structure things. If the Solana project can survive, it will be better, cheaper, faster, more scalable, and will have more dApps (decentralized applications). If there is no Solana killer based on these data, Ethereum could face a serious competitor.”
The Analyst Foresees a Future Where Solana Survives
Even though the analyst still believes that Ethereum is the smart contract platform of the future, he also believes that Solana could carve out its own unique space and survive the stiff market competition:
“I think the future will be very simple. We will have a consumer chain that also manages large businesses like cryptocurrency exchanges. We will have Ethereum as a big, powerful Blockchain that can perform large heavy transactions, different from the biggest cryptocurrency, Bitcoin. In both cases, Solana will still be there, standing.”
