Solana’s Underperformance This Year Vs. Ethereum Offers A Buying Opportunity
Long term holders of the Solana (CRYPTO: SOL) cryptocurrency have had a great five years, up over 5,000% to Ethereum’s (CRYPTO: ETH) 1,000% gain. This year has been more lackluster for SOL. But its underperformance should entice investors looking to diversify their blockchain holdings away from an overweight in ETH. Solana has legs. Industry players all seem to like it.
“Solana has capitalized on something we at Dash recognized back in 2015: users demand a ‘just works’ experience,” said Joel Valenzuela, a core member of Dash DAO based in New Hampshire. By ‘just works’ Valenzuela means developers are looking for an easy to use blockchain that does what it was built to do. In other words, it is user friendly.
Solana’s native coin has trailed Ethereum this year, the godfather of all blockchains. Ethereum approached its 2021 high of $4,422 last week. It’s trading at around $4,200 currently.
Ethereum has gotten too comfortable with its market lead in the blockchain space, some critics charge. This, of course, paved the way for the big alternative layer one blockchains like Solana, Cardano, and others. “They’ve made excuses for why they can’t offer the same fast, low-cost, permissionless experience to all of their users,” said Valenzuela.
“Solana has been more than happy to step in and do their job for them. Let this be a lesson to the rest of the space: you adapt or you will die.” — Joel Valenzuela, Dash DAO.
Ethereum …
About The Author
