#Ethereum Cannot Become XRP’s Scenario, Says Solana Co-Founder
#Solana co-founder Anatoly Yakovenko has suggested that Ethereum (ETH) does not necessarily need to mirror XRP.
“Just because something irrational is happening in the world doesn’t mean it will happen to you or that you can do it,” he wrote on social media platform X.
This comes after Omid Malekan, an adjunct professor at Columbia Business School, reignited the debate over cryptocurrency valuations. He said it was “crazy” that Ethereum’s terrible performance often leads to fundamentals falling without taking into account sentiment-driven cryptocurrencies like XRP.
Malekan points to the fact that XRP’s fully diluted valuation (FDV) now outpaces Ethereum’s (ETH) valuation despite “the corporation ignoring his suggestions.”
He suggested that this could be because the market remains “immature,” so price action is still driven by “narratives” and “vibes,” rather than real fundamentals.
However, Yakovenko noted that those who cannot model why XRP or other sentiment-based cryptocurrencies actually have value cannot compete with them.
“If you cannot model why XRP or BTC has value, you cannot design it, and therefore you cannot compete with it,” he added.
XRP scenario “unlikely to work” with Ethereum, Solana co-founder believes.
Meanwhile, John Charbonneau, co-founder of crypto investment industry DBA, dismissed the idea that Ethereum does not need fundamentals. “Unique anomalies do not mean that these rules apply to everyone,” he said.
