According to experts, the blockchain is superior to that of ETH.
Looking at market capitalization, Ethereum is about four times larger than Solana. But the memecoins' preferred blockchain has long been considered a major challenger to the number two in the crypto world. This is now confirmed by an analysis by the investment bank Cantor Fitzgerald.
The next Solana ETFs are coming
Experts rate Solana's technology higher than Ethereum's. It's no surprise, then, that the investment firm has filed for another Solana spot ETF. This allows investors to buy the Solana token without having to trade on a crypto exchange.
The success of Solana meme coins has brought their blockchain into the spotlight. Solaxy is currently causing a stir, as the token brings Ethereum functionality to the Solana blockchain. The issuers hope to solve Solana's speed and scalability issues.
Even more capital for SOLX?
Solana spot ETFs, on the other hand, increase availability for investors, thus driving more capital into Solana. A similar development has been observed with Bitcoin over the past year and a half. Institutional investors now dominate the scene there, too.
According to Cantor Fitzgerald, Solana's blockchain outperforms Ethereum's in all key areas. The analysis examined and evaluated aspects such as scalability, speed, fee structure, and technical stability.
Solana can already process more transactions per second while incurring lower costs than Ethereum. This massively drives traffic and increases revenue from transaction fees.
The market value of memecoins on Solana now exceeds $13 billion, demonstrating that the blockchain is being used not only in DeFi but also for speculation.
Complement to Bitcoin
However, Solana's price doesn't yet fully reflect these impressive figures. The altcoin season is still a long way off, but the price of SOLX remains stable despite all the volatility. Over the past seven days, SOLX has traded within a price range of $145 to $160.
Solana's developer growth suggests that its technology could drive future marketplace and transaction growth. Solana could thus complement Bitcoin's role as a reserve currency and asset protection against asset losses.
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