Solana (SOL) co-founder Anatoly Yakovenko said the project’s biggest competitor is now Coinbase’s Ethereum (ETH) scaling solution.
In a new interview on the Unchained Crypto YouTube channel, Yakovenko said Coinbase’s Base has become Solana’s biggest competitor due to the amount of network activity.
“When you look at activity, Base is probably our closest competitor right now. The way I analyze this problem is… The key components of product-market fit (PMF) are price, features, or content. Ethereum’s weakness was price, and Solana had killer prices that Ethereum alone could never reach, exorbitant prices that only charged users fees…
What is unique about Ethereum is the assets issued on it. And now I think that’s moving to some extent to Solana. First, Meme Coin is new content created every day… I think the biggest competitor in the Solana ecosystem is Base.”
He also says layer 1 Sui (SUI) and Aptos (APT) have gained ground.
“Sui and Aptos are also doing really well. They have caught up on features and pricing. The problem they have is that Solana is too different from Ethereum. There was an improvement of about 10 times. Now the improvements are minimal and not enough to be the killer part. “If you improve Solana’s fees by 100x, you might have some weird use cases running there, but it’s not the main use case that people care about, and it’s not a good enough differentiator.”
Solana is trading at $178 at the time of this writing, up 4% in the last 24 hours.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney