Solana (SOL) co-founder Anatoly Yakovenko says that the undertaking’s largest competitor is now Coinbase’s Ethereum (ETH) scaling resolution.
In a brand new interview on the Unchained Crypto YouTube channel, Yakovenko says Coinbase’s Base has develop into Solana’s largest rival because of the quantity of community exercise.
“Base might be the closest competitor now, I might say, when exercise. How I break this downside down is … your killer elements of PMF (product-market match) is value, options or content material. Ethereum’s weak spot was value, and Solana had a killer value that simply Ethereum might by no means get to, simply charges to customers…
What is exclusive about Ethereum is the property issued there. And I believe now that’s shifting over considerably to Solana. One, memecoins are new content material being created daily… Base, I believe, is the largest competitor that I consider to the Solana ecosystem.”
He additionally says that layer-1s Sui (SUI) and Aptos (APT) have gained floor.
“Sui and Aptos are also doing rather well. They’ve caught up on options and value. The issue that they’ve is that Solana had such an enormous distinction on these from Ethereum. There was a ten order of magnitude enchancment. Now the enhancements are marginal and never sufficient to love be the killer half. When you enhance Solana’s charges by 100x you would possibly get some bizarre use circumstances that go run there however they’re not the foremost use circumstances that individuals care about after which it’s not sufficient of a differentiator.”
Solana is buying and selling for $178 at time of writing, up 4% within the final 24 hours.
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