Analysis of the growth of Ethereum competitors based on current data:
Solana (SOL):
Growth and advantages: Solana demonstrates impressive growth due to its high throughput (up to 65,000 transactions per second) and low fees. In 2024, the network attracted more developers (7625) than Ethereum (6456), strengthening its ecosystem.
Key events: The launch of memecoins such as TRUMP and MELANIA created a stir, while integrations with PayPal (PYUSD) and Visa (USDC) bolstered the trust of major players. In the first quarter of 2025, Solana generated $369.5 million in revenue, surpassing Ethereum ($220.8 million).
Forecast: Analysts predict the price of SOL to rise to $500–$1000 by the end of 2025, provided there is further scaling and partnerships.
Cardano (ADA):
Growth and features: Cardano grows due to its energy-efficient Proof-of-Stake and flexibility (up to 1 million transactions per second thanks to its two-layer architecture). In 2024, ADA grew by 82.1%, ranking 9th with a market capitalization of $39.4 billion.
Prospects: Cardano attracts developers for DeFi, NFT, and gaming, but lags behind Solana in speed of adoption. Inclusion in spot ETFs is forecasted for 2025, which could raise the price.
Challenges: Slower adoption of smart contracts (since 2021) limits competitiveness.
Other blockchains:
Avalanche (AVAX): High performance (up to 4500 TPS) and compatibility with Ethereum make it a competitor in DeFi and NFT.
Polygon (MATIC): As an L2 solution for Ethereum, Polygon grows due to low fees and popularity in DeFi/NFT.
Sui and TON: Sui showed a token growth of 75% in January 2024, while TON attracts attention due to its integration with Telegram and gaming.
Why is Ethereum losing dominance?
High fees and limited scalability (17 TPS compared to 65,000 for Solana) force developers to seek alternatives.
L2 solutions (Arbitrum, Optimism) assist Ethereum, but Solana and Cardano offer built-in scalability without additional layers.
The growth of memecoins and DeFi on Solana attracts retail investors, while institutions (Ark Invest, Grayscale) increasingly invest in SOL and ADA.
Summary: Solana leads in growth rates and returns, potentially surpassing Ethereum in revenue by 2025. Cardano is strengthening its position but is developing more slowly. New projects like Sui and CYBRO may also challenge the leaders. Ethereum maintains a strong DeFi and NFT infrastructure, but its dominance is being diluted by competition.
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