This is not financial advice, and in full disclosure, I own both Solana and Ethereum.
Over the last 3 years, Solana’s daily active address base went from 23K to 500K, a 21x! Moreover, the number of user transactions and active developers on Solana have doubled.
I have noticed similarities between Ethereum in 2020 and the recent developments in Solana.
Uniswap, one of Ethereum’s DeFi protocols, achieved 39% volume, while Orca, the Solana ecosystem’s platform, recorded a substantial volume ranging from 30% to 40%.
In NFTs, Solana’s Tensor has 50-70% daily vol, like OpenSea on Ethereum did in 2020.
I could see Solana headed down the same road as Ethereum did last cycle. Except, Solana has the advantage of learning from Ethereum’s challenges.
What are your thoughts on Solana this cycle? Comment below.
