One “rising development” may doubtlessly give Solana (SOL) an edge over Ethereum (ETH) within the struggle for sensible contract supremacy, based on an evaluation from the digital asset banking group Sygnum.
The financial institution acknowledges in a new report that Solana has some overstated quantity metrics and solely a small portion of Ethereum’s market share.
Sygnum additionally notes that Solana’s transaction volumes are “overwhelmingly” based mostly on memecoin issuance and buying and selling.
The financial institution argues, nonetheless, that conventional finance companies may give Solana the sting in the event that they prioritize the Ethereum challenger as they launch tokenization platforms and stablecoins.
“There have been indications not too long ago that even conservative establishments could place larger emphasis on Solana’s scalability than on Ethereum’s larger stability and safety. After PayPal added Solana a couple of months in the past for stablecoin processing, a PayPal govt not too long ago claimed at a Solana occasion that ‘Ethereum is just not one of the best resolution for funds.’
Visa not too long ago added Solana for USD Coin settlement and launched a report highlighting Solana’s ‘excessive throughput with parallel processing, low price with localized price markets and excessive resiliency.’ Franklin Templeton additionally introduced their plans to launch a mutual fund on Solana, and Citi prompt it was contemplating the community for cross-border funds processing.”
ETH has a market cap of $291.6 billion at time of writing, whereas SOL’s stands at $67.1 billion.
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