Solana Faces Competition From Sui, Ton, Base Blockchains: Report
Posted On May 13, 2025
Solana‘s (CRYPTO: SOL) rapid rise as a high-performance blockchain is tempered by growing competition and network vulnerabilities, according to a new 21Shares report.
What Happened: The analysis highlights challenges like rival Layer 1 and Layer 2 networks, limited decentralization and reliance on speculative trading as key risks to Solana’s dominance.
Despite its $80% surge in 2024 and $364 billion in transaction volume in early 2025, these hurdles could slow its trajectory.
“Layer 2 solutions like Base and newer Layer 1 networks such as Sui (CRYPTO: SUI), TON (CRYPTO: TON) and Monad present growing competition due to their …
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