Bank of America analyst Alkesh Shah pointed out an altcoin project. Alkesh Shah believes Solana will exhaust Ethereum’s market dominance. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
Bank of America analyst drew attention to an altcoin project!
Bank of America analyst Alkesh Shah predicts in his latest research note that Ethereum will continue to lose market share against rival altcoin Solana. Although 2021 was an important year for Ethereum, its performance was overshadowed by Solana. SOL is up more than 2,200% against ETH last year. However, the SOL/ETH pair is down 8% this year and the entire market has experienced a significant correction.
Shah believes Solana could turn into a Visa-like beast and become the payment protocol in the cryptocurrency industry. Shah claims that Ethereum is not scalable enough, which increases the transaction cost. So the analyst believes scalability is important:
Solana prioritizes scalability. However, a relatively less decentralized and secure Blockchain has had trade-offs since its inception demonstrated by various network performance issues.
Can Solana topple Ethereum?
But Solana also has its own performance issues. The network crashed on September 14 due to a bug that exposed its vulnerability. This was not a one-time event: Solana also stopped for five hours on December 4. Earlier this month, the network started experiencing throughput issues. Recently, JPMorgan Chase analyst Nikolaos Panigirtzoglou also stated that Ethereum is at risk of being surpassed by Solana, Binance Smart Chain and Avalanche.
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