Solana co-founder Anatoly Yakovenko shared his views on Ethereum's future valuation strategy, stating that XRP’s success model is unlikely to be replicated by Ethereum. Posting on X, Yakovenko commented that irrational market outcomes cannot be intentionally engineered by others.
Yakovenko’s comments came after Columbia Business School adjunct professor Omid Malekan reignited the debate around cryptocurrency valuations. Malekan expressed frustration that Ethereum’s weak market performance is often linked solely to fundamentals, while cryptocurrencies like XRP continue to thrive based on market sentiment and narratives.
XRP’s Market Performance Raises Concerns
According to Malekan, XRP’s fully diluted valuation has surpassed Ethereum’s despite Ripple controlling a significant share of XRP’s total supply. He argued that this phenomenon highlights the immaturity of the crypto market, where prices are driven more by "vibes" and narratives than by core fundamentals.
Yakovenko emphasized that the market success of sentiment-driven assets like XRP and Bitcoin cannot be easily replicated. He noted that if one cannot accurately model why assets like XRP or Bitcoin hold value, then attempting to engineer similar results would be unrealistic.