Compass Investments

Bitcoin vs. Dollar

📌 Traders say Solana could overtake Ethereum, but warn that ETH’s prominence does not guarantee long-term dominance.

A veteran trader warns that Ethereums (ETH) status as a smart contract platform is not as solid as many believe. Solana

– A veteran trader warns that Ethereum’s (ETH) status as a smart contract platform is not as solid as many believe.

Pseudonymous trader The Flow Horse told 210,000 subscribers that Ethereum could become like Compaq Computer Corporation. Compaq Computer Corporation was a leading company in its field but eventually went bankrupt and was acquired by HP in 2002.

He said the likelihood of Ethereum succumbing to Solana (SOL) has “definitely increased”.

“The likelihood of Solana overtaking Ethereum has definitely increased. Current trends and the sentiment of ardent ETH supporters suggest a natural mean reversion in favor of ETH.

However, given how immature the cryptocurrency market is, it is premature to declare any platform as the definitive leader. Much like Compaq in the early days of personal computers, ETH may be the current leader, but that doesn’t guarantee continued dominance.”

Speaking of Solana, The Flow Horse also follows the explosive growth of the Memecoin ecosystem on the rival Ethereum network, which has caused a surge in trading volume on Solana-based decentralized exchanges (DEXs).

Traders are warned not to discount Cat in a Dog’s World (MEW), a new memecoin that they believe has the potential to go mainstream on Coinbase sooner than Solana’s largest memecoin, Dogwifhat (WIF).

Jokes aside, don’t miss out on a project that came out of nowhere, with a stacked ledger and a strangely high market value.”

At the time of writing, Solana is trading at $197.71 and MEW is trading at $0.00519.

Bitcoin

Bitcoin

$67,512.74

BTC -4.88%

Ethereum

Ethereum

$3,251.59

ETH -8.22%

Binance Coin

Binance Coin

$586.25

BNB -6.36%

XRP

XRP

$0.54

XRP -10.79%

Dogecoin

Dogecoin

$0.17

DOGE -13.07%

Cardano

Cardano

$0.51

ADA -13.60%

Solana

Solana

$152.59

SOL -13.15%