Anatoly Yakovenko, co-founder of Solana, did not mince words: Ethereum will not be able to follow the "playbook" of XRP. In a strong post on X, he states: "Just because something irrational happens in the world, it doesn't mean it will happen to you as well, nor that you can make it happen."
According to him, the success of XRP is not reproducible because it is based on dynamics that escape classical rational logic. XRP was able to capture value not through strict engineering or solid fundamentals, but through a combination of market sentiment, institutional adoption, and collective vibes.
Yakovenko points out with a touch of irony: "If you cannot model why XRP or BTC have value, you cannot design it, and therefore you cannot compete with it."
In other words, without deeply understanding why certain assets capture value despite their irrationality, it is illusory to think that one can "imitate" their trajectory. The "XRP model" belongs to a specific universe, shaped by its history, its followers, and its unique ecosystem. Ethereum, with its own architecture and challenges, will have to find its way differently.
The debate does not end there. Omid Malekan, adjunct professor at Columbia Business School, also stoked the fire by reminding that the crypto market remains "deeply immature." According to him, the recent success of XRP proves that narratives, vibes, and sentiments weigh much more than fundamentals.
In his intervention on X, he points out that XRP now surpasses Ethereum in Fully Diluted Valuation (FDV) despite the fact that "one corporation owns half of the supply." A situation he describes as "mind-boggling" for those who insist on analyzing only through the prism of technical design or actual revenues.