Solana has had a huge boost over the past 12 months, growing on capital inflows and climbing the market cap rankings to take its place behind Ethereum – even leapfrogging Binance’s BNB for the Binance Smart Chain in March.
Ethereum is still the leader in decentralized finance (DeFi) and is already growing thanks to the bullish attitude of investors awaiting the approval of the Ethereum ETF.
This led to a massive rally lasting several months that gathered enormous upside strength starting around this time before the Bitcoin ETF was approved in January.
For those investors looking to benefit from an investment in Ethereum (which means greater risks, but greater rewards), old meme coins like SHIB, FLOKI and PEPE are good.
But for those looking for meme coins with high potential, a new project that has been featured on CoinPedia, CityPaper, and Blockchain Today is the new Kai Cat Coin (KAI) on Ethereum, currently on pre-sale for $0.0042 per token.
What’s behind Solana’s growth?
Solana’s speed versus Ethereum’s security
In a time test using data from Dune Analytics and other blockchain explorers, CoinGecko recently recorded Solana with the highest TPS (transactions per second) among large blockchains: 1,053. Binance Smart Chain (BSC) came in third.
Ethereum ranked well below Solana, but its slower speed and higher costs are actually the key to the adoption of the DeFi network by institutions and regulators.
Big players in the US corporate sector love Ethereum because they understand that the slower, more expensive network is more stable and secure because it costs more to use. Scalability is a double-edged sword with important trade-offs.
Institutional Finance: Bullish for ETH and SOL
Franklin Templeton, the $1.5 trillion global investment management firm based in San Mateo, California, is very bullish on Solana.
https://x.com/FTI_DA/status/1786049586152255659
A March note from the company’s digital assets group identifies Solana as one of its top 3 holdings.
A May 2 report from Franklin Templeton predicts that “accelerated adoption” will soon make Solana a top-3 cryptocurrency. Following this news, the price of SOL increased by 9%.
Cathie Woods of Ark Invest supported Solana during the month of November. She is someone worth listening to on high tech investing, as one of ARK’s ETFs was the most profitable ETF in 2023.
Plus, the US Securities and Exchange Commission is about to approve Ethereum for regulated investors – and a former president with skin the color of Bitcoin is using Ethereum to sell his NFTs.
Conclusions
Both cryptocurrencies are absolutely bluechip blockchain assets that may be worth adding to your portfolio. Even a taxi driver might mention Solana and Ethereum when talking about digital assets and this is a very important aspect because these two tokens are becoming mainstream.
The base tokens of both networks promise investments with some trade-offs to use the legacy network or the new fast network. Therefore, one of the two tokens can be considered as Coca-Cola, while the other is Pepsi.
But degens (totally degenerate investors) who like to invest in 10 different altcoins in pre-sale, IEO or ICO – aware of the unpredictability of the market – can consider Ethereum Kai Cat Coin (KAI).
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