Solana Fundamentals vs Ethereum
The What
Solana has been top of mind recently with an increasingly active ecosystem and the native token outperforming ETH by nearly 300% on the year.
The recent airdrops and general price appreciation within the Solana ecosystem have made many ecosystem participants wealthy and increasingly confident in the future success of Solana. So much so that some analysts are calling for a flippening of Solana over Ethereum as opposed to the long-fabled Ethereum-Bitcoin flippening.
Realistically, however, Solana's valuation trades nearly 9x lower than Ethereum with a $31 billion circulating market cap versus ETH’s $267 billion making a valuation flippening unlikely in the near term.
However, in terms of fundamental activity in key areas such as DEX volumes, NFT volume, and general activity, Solana has flipped and can still flip Ethereum.