OG Strikes Back: Why Solana Will Never Surpass ETH! Ethereum L2 to Dismantle Solana’s Advantage
Multicoin Capital co-founder Kyle Samani recently predicted that Solana’s market capitalization will eventually surpass that of Ethereum, citing three main reasons. However, Ethereum community member Ryan Berckmans rebuffed this claim on the 28th, emphasizing that Solana will never outshine Ethereum.
When compared to Ethereum, Solana’s ecosystem has shown more dynamism in this market cycle. At the Token2049 conference in Singapore, Kyle Samani confidently proclaimed on the 19th that SOL’s market capitalization will exceed Ethereum’s in the future, substantiating his argument with three key points.
Nevertheless, on the 28th, Ryan Berckmans responded to Kyle Samani’s views by asserting that his analysis of Ethereum’s history was misleading and exaggerated, ultimately concluding that Solana will never surpass Ethereum.
The Debate Unfolds
Addressing Kyle Samani’s claim that Ethereum cannot capture transaction value due to erosion by L2 networks, Ryan Berckmans argued that this is merely a temporary phenomenon influenced by the bear market. He also refuted the notion that L2 fragmentation is detrimental to DeFi, emphasizing that fragmentation is an inevitable outcome of blockchain and that L2 development is both necessary and effective.
Furthermore, Ryan Berckmans criticized Kyle Samani for overlooking Ethereum L2 data when comparing Solana and Ethereum’s DEX trading volumes.
Regarding Solana’s purported three structural advantages—token expansion, Firedancer upgrades, and hardware expansion—Ryan Berckmans also debunked each point. He highlighted that technologies such as token expansion and hardware expansion are not exclusive to Solana, as similar developments exist within the Ethereum ecosystem. Additionally, the Firedancer upgrade has not yet achieved the promised transaction per second (TPS) as claimed by Solana.
The Real Structural Advantages
In Ryan Berckmans’ perspective, Solana’s true structural advantages lie in leveraging centralization and vertical integration to accelerate growth. Moreover, Solana demonstrates greater curiosity and aggression at the application layer compared to Ethereum, as seen in decentralized public infrastructure (DePIN) and consumer encryption.
However, Ryan Berckmans emphasized that Kyle Samani’s descriptions of Solana’s strengths and progress are either exaggerated or entirely fictitious, omitting any details about Solana’s structural disadvantages. For instance, while Samani claims a TPS of 50,000, reality dictates a maximum of 1100 TPS currently achievable.
Ryan Berckmans conclusively states that Sol will never surpass ETH. Solana is currently witnessing its shining moment in this cycle. In the future, the fastest L2 will surpass Solana. Solana’s speed and cost advantages will diminish to zero. Eventually, everyone will realize that the L2 model is a brilliant move that aligns with the practical operations of the world while bringing significant value growth to ETH.
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