One “rising development” might doubtlessly give Solana (SOL) an edge over Ethereum (ETH) within the battle for good contract supremacy, based on an evaluation from the digital asset banking group Sygnum.
The financial institution acknowledges in a brand 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, nevertheless, that conventional finance corporations might 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 better emphasis on Solana’s scalability than on Ethereum’s better stability and safety. After PayPal added Solana a number of months in the past for stablecoin processing, a PayPal govt not too long ago claimed at a Solana occasion that ‘Ethereum just isn’t the very 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 payment markets and excessive resiliency.’ Franklin Templeton additionally introduced their plans to launch a mutual fund on Solana, and Citi instructed 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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