Many experts believe that Solana could be Ethereum’s “killer” due to lower fees and faster transaction times.
SOL is currently the fifth-largest digital asset with a total market cap of $71.7 billion, overtaking Cardano (ADA), which ranks sixth with $67.4 billion. Ethereum (ETH) ranks second with an estimated market cap of $564.7 billion.
Solana rose 11,742% last year to $237.53. ETH also rose 931% in one year to around $4,800.
How could Solana, become dangerous to Ethereum?
Let’s take a look at Solana’s expansion.
Earlier this week, Solana hosted the Solana Breakpoint 2021 conference in Lisbon, Portugal. Solana Labs co-founder Anatoly Yakovenko, FTX CEO Sam Bankman-Fried, Reddit, Alexis Ohanian, and an extended circle attended the conference.
The Solana founder said the Solana ecosystem “exploded” in 2021 and grew tremendously in terms of “use case.”
The co-founders reported data showing that in three months, 2.2 million NFTs were generated on the Solana blockchain with a total value of over $15 billion locked in Solana’s DeFi, and many more projects that add value to Solana. With projects such as: brings NYDFS-licensed Standard Custody Solana shares to the institution, receiving support from various sectors, announcing a $100 million gaming fund, Brave announces native integration on Web3 sites, $100 million investment from Reddit, and many more projects related to the Solona ecosystem.