Solana: A Promising Ethereum Competitor with High Potential, According to Analyst - COINTURK NEWS
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Solana: A Promising Ethereum Competitor with High Potential, According to Analyst

8:15 pm (15 days ago)
September 6, 2023

InvestAnswers’ anonymous server and experienced cryptocurrency analyst believe that Solana (SOL), the altcoin rival of Ethereum (ETH), has significant potential and is attracting high institutional interest. According to the analyst, investors can easily purchase SOL at current prices.

Analyst’s Perspective on Solana’s Potential

InvestAnswers’ anonymous server believes that Solana, the Ethereum competitor, has important advantages that can increase its price compared to ETH. The analyst stated, “The real difference here is how much better Solana is in size. If you look here, red represents Solana and deltas, blue represents ETH. You can see that it overwhelms it. These are on a logarithmic scale on the left. That’s the big difference. When you look at all the fundamental factors, each has 10 wins, but in reality, Solana wins much more in the places it wins. In the places where Ethereum wins, it only wins by a small margin.”

The chart shared by the analyst compares 19 different categories of Solana and Ethereum. Solana surpasses Ethereum in categories such as block time, average fees, and transactions per second (TPS), which represents the maximum number of transactions a blockchain can process in one second. The analyst also added that Ethereum is considered a more established and secure investment for investors.

“Solana Can be Easily Purchased at Current Prices”

InvestAnswers’ anonymous server highlighted that more institutional money has flowed into Solana than Ethereum since the beginning of the year and stated, “Ethereum is secure. It is established. It has been in the market for a long time. The risk is much lower. When big money comes in, it will flow into ETH first, but we have seen that institutional money has flowed into Solana more than Ethereum this year.”

According to the analyst, Solana has a greater opportunity to experience price increases compared to ETH because its market value is much smaller than Ethereum. Currently, Solana is the 10th largest cryptocurrency with a market value of $8.2 billion, while Ethereum stands out as the second largest cryptocurrency in terms of market value with $196 billion.

Based on this situation, the analyst stated, “The magic question to be asked here is this. Is Ethereum 20 times better than Solana when you break everything down? And I think the answer is no, but there is risk in Solana, so you allocate funds accordingly. My Solana bag is about one-third the size of my ETH bag, but it will grow, and I think it will grow faster. However, the small thin green strip on the right represents the market value of Solana and ETH. ETH’s market value is 20 times higher, which is very striking. As an investor, I am looking for relative value. Solana can be purchased at current prices.”

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