Cardano and Solana, the fourth and sixth largest blockchains by market cap, respectively, boast emerging altcoin projects and smart contract capabilities. Moreover, both have been dubbed “Ethereum killers” as they do their best to attract users who are fed up with Ethereum’s gas fees. The question on investors’ minds is: Which one will win? Crypto researcher and commentator Max Maher recently addressed this mystery using some metrics and came to a surprising conclusion.
Altcoin wars: Cardano vs Solana
Using a few metrics, Maher compared Cardano and Solana to understand which altcoin project might be a better investment. Naturally, Cardano emerged as a winner due to its larger size. But as for a few specific metrics, Maher says:
Definitely looking at the data I’m surprised to see Solana has quite a bit of luck here.
So how did this result come about?
For both altcoins, Maher reviewed the total wallet addresses above $2 and got the same metric a month later. At that time, Cardano saw a percentage gain of 10.92%. However, Solana’s (SOL) increase was 22.59%. This was despite the fact that Cardano’s total wallet addresses (more than $2) were about twice that of Solana.
Maher described Cardano’s earnings as “huge” but said Solana’s data point was “mind-blowing”:
This means that if Solana continues at the current 22.5% – which is huge – but if they continue at this rate, they will surpass Cardano in total user size, total wallet addresses, in about six months. Which really highlights the growth here and what those percentage gains can do.
For reference, Maher also mapped out the data:
Maher also showed that Solana’s volume of roughly $2.2 billion traded on the network (30-day average) is much higher than Cardano’s.
So could the growth of Solana and Cardano threaten Ethereum any time soon? Maher said:
I truly believe that if Ethereum loses its crown in the smart contract race… that will happen in the next year to two years.
Finally, Maher admitted that he “likes” both projects.
But remember…
No Blockchain or altcoin is perfect, and both Cardano and Solana have endured their fair share of flaws and FUD. In September, Solana’s mainnet-beta saw “intermittent instability.” The reason for the outage was that the processing load also led to the fork.
Cardano didn’t exactly enjoy a smooth ride, either. Known as the third largest blockchain by market cap, Cardano recently accepted the rank of Binance Coin (BNB). At the time of writing, ADA was priced at $2.16. Meanwhile, SOL was trading at $205.
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