A popular crypto analyst considers the digital asset to be promising as Solana (SOL) beats Ethereum (ETH) in a critical indicator.
In a new strategy session, the InvestAnswers server reviewed data showing Solana trading significantly more than Ethereum. The data in question was revealed by blockchain analytics firm Nansen.
“Daily transactions on Ethereum vs Solana, and these are non-voting transactions for Solana. So real transactions. The staggering numbers here, just to make it clear: Ethereum… processed 1.1 million transactions per day.
This includes all other related chains. Solana has about 36 million transactions, so I thought it was interesting to review. So in terms of chains and how they are used, according to Nansen, not to me, Solana is used 31 times more than Ethereum, which is surprising.”
On the other hand, the analyst states that Ethereum still dominates the locked total value (TVL) and has the lion’s share of all TVL in the crypto ecosystem.
A blockchain’s TVL represents the total capital held in its smart contracts. TVL shows how successful the blockchain has been in attracting the genuine interest of active users in transactions, as it reveals the total value of all cryptocurrencies invested in the protocol.
“In terms of total locked value (TVL), you can see that EVM (Ethereum Virtual Machine) still dominates TVL…
On this basis, 80% of the TVL of the crypto economy lives in large EVM chains. TVL itself has declined quite a bit since the last market crash. But it’s coming back fast, and I have no doubt that it will return from $140 billion or $160 billion to $200 billion. Because everyone is getting through this crypto winter very quickly.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.