Yeah solana is great and all but the entire economy too much revolving around meme coin that if at some point the meme trend is ended and the market runs dry of trading volume solana could also be abandoned.
not denying that there are plenty of great defi in solana too even as good as ETH but the most dominating defi in solana is the one that has something to do with meme coin.
even pumpdotfun is beating ETH in term of revenue alone, that is quite the feat because pumpdotfun is just a launchpad and ethereum is a whole blockchain even 2nd highest by market cap in term of rank but got beaten by some launchpads project, however i bet solana revenue also mostly come from pumpdotfun and any other meme related defi protocols which means too depending on meme trend. this could be a flaw.
not denying that there are plenty of great defi in solana too even as good as ETH but the most dominating defi in solana is the one that has something to do with meme coin.
even pumpdotfun is beating ETH in term of revenue alone, that is quite the feat because pumpdotfun is just a launchpad and ethereum is a whole blockchain even 2nd highest by market cap in term of rank but got beaten by some launchpads project, however i bet solana revenue also mostly come from pumpdotfun and any other meme related defi protocols which means too depending on meme trend. this could be a flaw.
I guess Solana turned into a speculative Blockchain rather than an utilitarian one. I'm not surprised "meme" coins are flooding the chain. Especially when Solana has dirt-cheap fees and blazing-fast confirmation times. This encourages spamming on the network. Eventually, Solana will turn into a "garbage chain", while Ethereum will remain the top-quality chain in the Web3 world. The latter has the biggest ecosystem of dApps, tokens, and services that can't be beat. Not to mention, liquidity is among the highest of any smart contracts platform.
The smart money will choose ETH over SOL. And when we compare ETH vs BTC, the last one is the clear winner. Why focus on replacing the leading cryptocurrency? ETH can be a successful alternative of BTC. I think it will remain the second-largest cryptocurrency by market cap forever.
