The cryptocurrency world continues to grow with new projects and technological developments every day. These rapid changes create a constant topic of debate among investors and experts regarding the future of different crypto assets. Recently, Solana (SOL) has attracted attention, especially when compared to Ethereum (ETH), and crypto investor and venture capitalist Chris Burniske is among those who have made important claims on this subject.
A chart by analyst Will Clemente sharing Burniske noted that the Solana-Ethereum (SOL/ETH) trading pair is forming higher lows and higher highs as a potential harbinger of change.
“If you’ve been paying attention, you’ll see the obvious; If you are tribally loyal to your privileged team, you continue in willful ignorance.”
Burniske argues that Solana is ready to surpass Ethereum in a new trend formation. Moreover, Solana has long remained optimistic about his rise.
For many developers, the ETH ecosystem remains strong as one of the largest and most established platforms in the crypto world. But Burniske, a former crypto analyst at ARK Invest, thinks Ethereum is the preferred option for many developers who are already comfortably well on their way. These developers, who are within the ETH ecosystem, continue to work on Ethereum to maintain their current status and grow their projects.
However, Burniske states that Solana has a different approach than Ethereum and emphasizes that investors should take a different stance on SOL.
“If you’re building something, I understand your desire to stick with Ethereum and continue to believe that the future of Ethereum is bright. “If you are an investor, it takes a lot of mental gymnastics not to add SOL risk to your existing ETH investment.”
According to Burniske, in the past, Bitcoin bulls believed that the entire crypto ecosystem would run on the BTC network. He believes a similar situation exists with ETH investors. The market expert argues that Ethereum enthusiasts may also be caught off guard if Solana takes a large share of the market capitalization.
“I saw the same thing with Bitcoiners that I see with some Ethereans (ETH supporters) right now. The rally cry is the same: ‘
Everything will be built on Bitcoin!’
‘Everything will be built on Ethereum!’ ‘
BTC will capture all value!’
‘ETH will capture all value!’
“History repeats itself.”
At the time of writing, popular altcoin Solana is trading at $24, up over 13%.
Burniske argues that Solana could greatly increase Ethereum’s market share and therefore investors should pay more attention to this crypto asset. However, one point that should not be forgotten is that the crypto world is a rapidly changing and risky environment. Both altcoins have their own advantages, but both involve certain risks.
You can follow the current price movement here.