Will Solana (SOL) Flip ‘Dead’ Ethereum?

A recent video by Crypto Banter explores whether Solana’s meteoric growth could soon see it overtake Ethereum to become the second-largest blockchain by market capitalization. This potential changing of the guard has already been dubbed “the flippening” by the crypto community.

Solana is the rising star of the crypto world, having risen to the top 10 cryptocurrencies by market cap off the back of its blazing fast speeds and low fees. As host Miles Deutscher explains, Solana even briefly overtook Binance Coin to become the third-largest crypto asset earlier this year.

Meanwhile, criticism of Ethereum’s high costs and network congestion issues has been growing. Several prominent voices have labeled Ethereum as inefficient, unusable, and failing to live up to its promise. “Ethereum doesn’t work in any real-world scenario. It’s garbage,” declared entrepreneur Alex Becker recently.

Metrics Point to Clear Leader

A deeper analysis of Solana and Ethereum’s underlying metrics reveals some interesting insights. Solana’s daily active addresses and transactions have eclipsed Ethereum’s, indicating growing usage of the network. However, Ethereum still dominates when measuring the Total Value Locked into DeFi protocols built on each blockchain.

Deutscher argues this comparison is not entirely balanced, given Ethereum’s liquidity is currently fragmented across various Layer 2 solutions. Once these are more seamlessly integrated, Ethereum’s metrics could again pull ahead he suggests.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Ethereum’s Trump Cards

While Solana may be the new kid on the block capturing hearts and minds, Ethereum still holds some crucial advantages according to Deutscher. Its brand maintains unrivaled credibility and trust in institutional circles – something that will only broaden through the anticipated Ethereum ETF.

Ethereum also boasts by far the largest developer ecosystem, as well as hosting most of the major DeFi and NFT projects. And with Layer 2 innovations like Optimism and Arbitrum factored in, Ethereum has attracted over $18 billion in funding – dwarfing the total raised by Solana.

Deutscher believes Ethereum’s foundations remain strong enough to withstand the latest wave of criticism.

“Ethereum has consistently been one of the strongest assets in the crypto market during bear and bull cycles,” he remarks. “I think Ethereum is going to surprise a lot of people who have lost faith recently.”

Flippening or Fake Out?

While Deutscher sees a path for Solana ultimately passing Ethereum by market cap, he assigns this outcome a relatively low probability in the next 12 months.

Ethereum still retains structural advantages that will be difficult for Solana to overcome in the short term. And coming technical improvements may breathe new life into Ethereum, bolstering Deutscher’s prediction that Ethereum will outpace Solana over the next year.

Deutscher himself splits investment holdings between Ethereum and Solana but is considering weighting more heavily towards Ethereum due to its current undervaluation.

For traders evaluating the potential of their own portfolios, Deutscher recommends focusing on Ethereum’s demonstrable resilience and capacity to evolve rather than getting caught up in the newest trends.

“Many have continually bet against Ethereum only to get proven wrong again and again,” he concludes. “I wouldn’t recommend making that mistake myself.”

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.