yes if we involve Solana in the discussion and compare with Ethereum of course Solana is much better, and today it is more widely used, and yes some congestion problems on the solana network just need to be fixed and fixed that I think ETH will be overtaken by SOL rather than ETH catching up with BTC, even though ETH is considered a bluechip in the crypto market but indeed the technology has begun to be disrupted by much better competitors.
True, currently Solana (SOL) has about $83B and Ethereum (ETH) has almost $400B, although almost 5x multiples, but it makes more sense that Solana will catch up to Ethereum than Ethereum chasing Bitcoin (BTC) which has a lower multiplier from the MC side.
I feel like SOL itself can't catch ETH to be fair, but I do agree that ETH could drop down if anything happens. That means, I do not think that they will both be 600B one day together, like SOL would be growing faster and catch up, that kind of stuff will not happen.
What could happen would be both could reach 300B together, meaning ETH would go down, and SOL would continue to go up like the market. SOL was like 4th or something last I checked, so its a highly enjoyed coin, but we have seen plenty of them there before. I mean XRP was there, even BCH was there, we have seen ADA be third too, none of them stick and they all go down after a while, some very down, some little down, but they fail at it. SOL seems like one of them, could be like 8th in 3 years, and I wouldn't be shocked.
What I believe is that if its ever going to happen, like not just with SOL but if any other coin ever going to go above ETH, then in that case it wouldn't be just that coin going up, it would also be ETH not going up or even going down, that would make that thing possible. This is why I think its quite obvious that we are talking about something that will take a while, we need to be certain about it.
The number above says it all. There is a lot of difference if we take a look at them. SOL seems to be high, that is because of its hype that it is getting right now but what about later on or when the hype dies down? For sure, its market cap can also plunge down, while ETH can maintain its numbers easily with or without a hype.
Coin market cap ranking won't be called like that or it won't have a ' rank ' word if a crypto can have the same market cap. So yeah that there is no way both SOL and ETH can have that 600B or 300B market cap. Nothing permanent in this world and so as here in the crypto world. This is the reason why some coins have rank down, while the others have ranked up.
Even ETH had once fell down but it only backed up again after some time. It's been a long time since ETH haven't showed any movement in terms of its ranking and I think it will remain like this for a long time too. If let say a movement can finally occur, I think it will only go down because it also looks impossible for Bitcoin to be de-throned, though if let say it happens for real, I think that was very alarming on our side as a BTC supporter and It can mean that something really bad have happened with BTC.