In sygnum rated the chances of Solana by bypass ehrereum

Sygnum Swiss cryptobank does not see convincing signs that Solana will be able to bypass Ethereum as the main platform for institutional decisions. This is discussed In the company analytical report.

Analysts noted that the current moods around Ethereum remain weak – the market is increasing to large volumes of transactions on the Solana network and its benefits in commission generation.

“However, if you discard emotions, the medium -term dynamics will depend primarily on the choice of platforms with financial institutions,” Sygnum emphasized.

In favor of Ethereum, they say, stability, safety, durability and higher profits. On average, Ethereum revenues are almost 2.5 times exceeding Solana, except for a short splash associated with the release of Trump and Melania tokens by Trump’s family.

“The market has always perceived Solana’s income as less stable, since much of them are meme. This limits the advantage, ”analysts said.

Ethereum is criticized for reducing onchin activity at the base level after Dencun hardware-transactions have moved to cheaper L2-solutions. Because of this, they believe in Sygnum, the market began to appreciate ETH.

At the same time, Solana has its own challenges – in particular, in the field of tokenomics. Despite the leadership in the first level, most income goes to validators and does not contribute to the increase in the price of SOL. The proposal to reduce the inflation of the token, which could increase its value, has recently been completely rejected.

Sygnum also stressed that Ethereum retains leadership in those sectors that are interested in governments, regulators and traditional financial institutions – including tokenization, steiblcoins and Defi. The share of Ethereum in the RWA segment reached 57%, another 20% is the L2-solution of ZKSYNC. Solana – no more than 3%.

“Despite the decrease in the share of Ethereum in the stablcoin market since the beginning of the year, it still exceeds 50%. The share of Solana, although doubled, remains just above 5%, ”experts said.

At the same time, the most convincing progress of Solana is considered to be the increase in Defi: since the beginning of the year, its share in TVL has increased from 9.5% to 11.5%, while in Ethereum – decreased from 63.5% to 55%.

“None of the so -called” Ethereum murderers, “has not yet been able to shake its dominance. Although many have offered real innovations – scalability, compatibility, the majority disappeared from the market over time, ”Sygnum summed up.

Recall that in December 2024, Ethereum researcher Max Reznik declared burnout of the project and the transition to the Solana company Anza. At the same time, Ethereum leading developer Justin Drake denied the threat from competitors.

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