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Which Chain Has Better Meme Coins: Solana Token (SOL) or Ethereum (ETH)
Solana has had a huge boost over the past 12 months, swelling with capital inflows and climbing the market cap charts to take its place behind Ethereum – even leapfrogging Binance’s BNB coin for the Binance Smart Chain in March and was ready to do it again.
Ethereum is still the leader in decentralized finance (DeFi) and is already growing thanks to the bullish attitude of retail investors over the approval of the Ethereum ETF, the next one in the pipeline.
This led to a massive rally lasting several months that gathered enormous upside strength starting around this time before the Bitcoin ETF was approved in January.
For those investors looking to benefit from an investment in Ethereum (which means greater risks, but greater rewards), old meme coins like SHIB, FLOKI and PEPE are good.
But for those looking for undiscovered meme coin gems with the greatest potential for upside profits, a new project that has been featured on CoinPedia, CityPaper, and Blockchain Today is the new Ethereum Kai Cat Coin (KAI), currently on presale for $0.0042 per token.
So what’s behind Solana’s growth?
Solana’s speed versus Ethereum’s security
Here’s one that fundamental analysts will like:
In a timed test using data from Dune Analytics and other blockchain explorers, CoinGecko recently timed Solana with the highest TPS (transactions per second) among the large blockchains: 1,053. Binance Smart Chain (BSC) came in third.
Ethereum ranked well below Solana, but its slower speed and higher costs are actually the key to the mainstream DeFi network’s adoption by institutions and regulators.
Big players in the US corporate sector love Ethereum because they understand that the slower, more expensive network is more stable and secure because it costs more to use, fending off many cyber exploits. Scalability is a double-edged sword with important trade-offs.
Institutional Finance: Bullish for ETH and SOL
Franklin Templeton, the $1.5 trillion global investment management firm based in San Mateo, California, is very bullish on Solana.
https://x.com/FTI_DA/status/1786049586152255659
A March note from the company’s digital assets group names Solana as one of its top 3 holdings.
A May 2 report from Franklin Templeton predicts “Accelerated adoption” will soon make Solana a top 3 cryptocurrency. SOL’s price rose 9% on the news.
Cathie Woods of Ark Invest approved Solana in November. You are someone worth listening to about high-tech investing. One of ARK’s ETFs was the most profitable ETF in 2023.
But the US Securities and Exchange Commission is about to approve Ethereum for regulated investors – and a former president with skin the color of Bitcoin is using Ethereum to sell his NFTs.
Bottom line
Both cryptocurrencies are absolutely bluechip blockchain assets that the least degenerate, most honest, white-hat, vanilla investor can tell you to add to your portfolio.
Your Uber driver these days might mention Ethereum or Solana if the conversation is about investing. This is good for more risk-averse cryptocurrency investors.
The base tokens of both networks promise investments with some trade-offs to use the legacy network or the new fast network. One is Coca-Cola, the other is Pepsi.
But total degens (totally degenerate investors) who like to fill their bag with 10x different altcoins in presale, initial exchange offering or initial coin offering – knowing that 2x will stall, 4x will blow or break even, 2x will behave like the S&P 500, 1x will make monster profits and 1x will be launched to the moon— you might consider Ethereum Kai Cat Coin (KAI).