SOL = Ethereum Killer?

[bitgolden]

Not doing good is bad for ETH there is no doubt about that. However, that doesn't mean we are going to see others take over just yet. I mean SOL is doing good that is true, but also ETH is doing bad, so when you see these two you may imagine that could happen and SOL be bigger. But the gap between them is so huge that there is no way that we can see SOL take over. Because that would require ETH to go down 50% and SOL go up nearly 100% to make them switch places.

Can you imagine a scenario where it would make ETH go down that much and SOL go up that much at the same time? Of course not and that is why there isn't anything that could make it go that different. So there isn't much issues of SOL taking off at all, and take over ETH, it is not going to be a problem for ETH at all. But that doesn't mean ETH should go on like this, of course it should go up more.

[Abiky]

SOL price action is amazing again.

It is back above $150 and seems like it will be explosive with DEX volumes are increasing.

AI meta is coming back and memecoins are moving again.

I see a lot of catalysts for SOL, compare to ETH.

Can it be the real Ethereum killer in the near future?

Indeed. But market prices alone are not an indication Solana will "kill" Ethereum in the long run. You have to measure TVL on-chain (De-Fi), trading volume, liquidity, among other things. So far, Ethereum has the highest TVL and trading volume/liquidity among its competitors. It's also the most dominant smart contracts platform.

What ETH needs is greater transaction capacity (scalability), and the "Solana hype" would be over. I've read somewhere online that developers are working day and night on a new network upgrade to address scaling issues. Next upgrade is scheduled to happen in May. Raising the gas limit was also proposed in the upcoming fork. With first-mover advantage, I don't think Solana will stand a chance against ETH. Only time will tell. I'd "hodl" both coins just in case.

[tygeade]

market prices alone are not an indication Solana will "kill" Ethereum in the long run. You have to measure TVL on-chain (De-Fi), trading volume, liquidity, among other things. So far, Ethereum has the highest TVL and trading volume/liquidity among its competitors. It's also the most dominant smart contracts platform.

What ETH needs is greater transaction capacity (scalability), and the "Solana hype" would be over. I've read somewhere online that developers are working day and night on a new network upgrade to address scaling issues. Next upgrade is scheduled to happen in May. Raising the gas limit was also proposed in the upcoming fork. With first-mover advantage, I don't think Solana will stand a chance against ETH. Only time will tell. I'd "hodl" both coins just in case.

I agree, ETH has so much that is going for it, and assuming that you can beat it so easily is unreal and you shouldn't rely on that at all. I am pretty sure that we are going to see a ton of differences on the long run but you are going to see the number one thing is that while ETH hasn't done great compared to what we expected it to do, there isn't really any reason to hope SOL could do better.

What ETH needs isn't just the gas fee, but also the fact that there aren't that many hyped projects at ETH ecosystem, most of them are over at SOL right now. If ETH lowers the gas fee, has a higher scalability, then we would see many projects go back to ETH and that would make the price of ETH be a lot better, shouldn't be an issue.

[Shinpako09]

We have a lot of this topic or discussion not just here in the forum but in other social media sites as well. How many did say this/that is BTC killer before but still on top, and now we have this ETH killer. I think it's too early to say SOL is an ETH killer, but we can't deny the hype and momentum right now is in SOL. If they can keep this momentum for a few more years and ETH remains the same, assuming they won't do anything, who knows, maybe your prediction will become true.

[Abiky]

I agree, ETH has so much that is going for it, and assuming that you can beat it so easily is unreal and you shouldn't rely on that at all. I am pretty sure that we are going to see a ton of differences on the long run but you are going to see the number one thing is that while ETH hasn't done great compared to what we expected it to do, there isn't really any reason to hope SOL could do better.

What ETH needs isn't just the gas fee, but also the fact that there aren't that many hyped projects at ETH ecosystem, most of them are over at SOL right now. If ETH lowers the gas fee, has a higher scalability, then we would see many projects go back to ETH and that would make the price of ETH be a lot better, shouldn't be an issue.

Exactly. It's like saying ETH will replace or "beat" Bitcoin in the future. Solana may be fast and cheap, but it lacks first-mover advantage on the market. Ethereum was the first coin to come up with the concept of smart contracts, anyways. Around 90% of alternative smart contract platforms are based on the EVM (Ethereum Virtual Machine). Avalanche, BSC, Zilliqa, and Ethereum's L2 networks (Arbitrum, Optimism, Base) all make use of the EVM.

On the other hand, Solana has its own (proprietary) framework for smart contracts. Nothing can "beat the real thing". Eventually, ETH will catch up as developers roll a series of network upgrades aimed to tackle scaling issues. "Catch up" in terms of popularity. In terms of liquidity, TVL, and market cap, ETH is still the winner. I'd buy and "hodl" more ETH for a big surprise in the future.

[shinratensei_]

We have a lot of this topic or discussion not just here in the forum but in other social media sites as well. How many did say this/that is BTC killer before but still on top, and now we have this ETH killer. I think it's too early to say SOL is an ETH killer, but we can't deny the hype and momentum right now is in SOL. If they can keep this momentum for a few more years and ETH remains the same, assuming they won't do anything, who knows, maybe your prediction will become true.

Altcoin branding themselves as BTC killer is silly, but another altcoin with huge TVL branding themselves as another altcoin killer does make a lot of sense.
We've got extensive history altcoin rotation and it's not impossible that the second biggest altcoin by market cap can be replaced by other alts, in fact, ETH has been overtaken plenty of times.

It goes to show how vulnerable ETH is and there's other altcoin ready to take its position.
I will be waiting for the ongoing ETF filling of SOL, if it went through, then it will be MASSIVE.

[Abiky]

Altcoin branding themselves as BTC killer is silly, but another altcoin with huge TVL branding themselves as another altcoin killer does make a lot of sense.
We've got extensive history altcoin rotation and it's not impossible that the second biggest altcoin by market cap can be replaced by other alts, in fact, ETH has been overtaken plenty of times.

It goes to show how vulnerable ETH is and there's other altcoin ready to take its position.
I will be waiting for the ongoing ETF filling of SOL, if it went through, then it will be MASSIVE.

ETH overtaken by "who"? XRP? I don't think so. While XRP did overtake ETH's market cap in the past, the event was short-lived. As long as Ripple, Inc. (the company) holds a large amount of the circulating supply, don't expect it to go anywhere soon. Besides that, XRP's total supply is insane (around 1 billion XRP). The coin lacks real use cases, compared to the rest of the pack.

Meanwhile, ETH's TVL on "De-Fi" continues to grow. Competitors such as Solana and BSC have been unable to take its place as the leading smart contracts platform. Saying another altcoin will replace Ethereum, is like saying an altcoin will replace Bitcoin. Both ETH and BTC have first-mover advantage on the market, so don't count on SOL "killing" ETH anytime soon. Not even spot ETFs will save it. You'll see...