Solana (SOL) has long been seen as a serious rival to Ethereum (ETH). Influential American entrepreneur and investor Anthony Pompliano believes Solana has even more potential than Ether. Consequently, he has decided to sell all his ETH and fully invest in SOL.
The Potential of Solana
Pompliano shared this decision in a recent podcast. He stated that he is selling his ETH due to recent developments and his confidence in Solana's future performance.
According to Pompliano, a shift is already underway. On May 15, 2024, Solana surpassed Ethereum in profitability for the first time. Solana generated more than $2 million in economic value, surpassing what Ethereum achieved following the launch of Ethereum Improvement Proposal (EIP) 4844.
Focus on Simplicity
The biggest advantage of Solana over its competitors is its simplicity. Anatoly Yakovenko, the founder of Solana, sees Ethereum's complexity as a challenge that Solana aims to address.
Yakovenko wants to "build things that I know are going to work" and focuses on creating the fastest blockchain in the world. While Ethereum tries to scale with layer-2 (L2) solutions, Solana opts for an integrated approach. Although this comes at the expense of decentralization, it offers users the best experience.
Different Opinions on Solana's Future
While Pompliano is optimistic about Solana's performance, crypto analyst Gert van Lagen is much more cautious. He predicts that Solana's price could still drop sharply to $13, a decline of over 90%.
Van Lagen bases his forecast on the Elliott Wave theory, which predicts market trends by analyzing patterns in price movements. According to this theory, 2021 marked the end of an upward trend, followed by a bear market.
Van Lagen expects the C-wave to occur in 2024, signaling the end of the downward cycle. Credible Crypto is also bearish, expecting a correction below $100 after a rise to $230.
