Solana (SOL) co-founder Anatoly Yakovenko says that the challenge’s greatest competitor is now Coinbase’s Ethereum (ETH) scaling answer.
In a brand new interview on the Unchained Crypto YouTube channel, Yakovenko says Coinbase’s Base has turn out to be Solana’s greatest rival as a result of quantity of community exercise.
“Base might be the closest competitor now, I might say, when taking a look at exercise. How I break this downside down is … your killer elements of PMF (product-market match) is worth, options or content material. Ethereum’s weak spot was worth, and Solana had a killer worth that simply Ethereum may by no means get to, simply charges to customers…
What is exclusive about Ethereum is the property issued there. And I feel now that’s shifting over considerably to Solana. One, memecoins are new content material being created each day… Base, I feel, is the largest competitor that I consider to the Solana ecosystem.”
He additionally says that layer-1s Sui (SUI) and Aptos (APT) have gained floor.
“Sui and Aptos are also doing rather well. They’ve caught up on options and worth. The issue that they’ve is that Solana had such an enormous distinction on these from Ethereum. There was a ten order of magnitude enchancment. Now the enhancements are marginal and never sufficient to love be the killer half. If you happen to enhance Solana’s charges by 100x you may get some bizarre use instances that go run there however they’re not the key use instances that folks care about after which it’s not sufficient of a differentiator.”
Solana is buying and selling for $178 at time of writing, up 4% within the final 24 hours.
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