Solana has always shone under the projectors of the press and crypto influencers. The community is full of praise, relaying records to the chain. Between corporate domination, volumes of transactions and record storage, Ethereum seems to be relegated in the shadows. But a Sygnum study sets the record straight. What if the storytelling masked the real flaws of the alleged “Ethereum Killer”?
In short
- Solana dominates in fresh Layer 1 but its income remains too concentrated on the same.
- Ethereum keeps the institutional advantage thanks to its established stability, security and regulatory structure.
- The figures confirm Ethereum in front of Solana on the DEFI, the stablecoins and the tokenization.
- Sygnum underlines that storytelling is not enough to have the throne of Ethereum waves today.
Unstable income under blinding projectors
Sygnum, Crypto banking group, remains cautious about the Solana's ability to exceed Ethereum. According to their analysis, Solana's income comes too much from the samea sector deemed too volatile.
“” Income is unstable, too concentrated in the same. »»
Sygnum report
In the medium term, Choice of institutions will make the difference. And these favor stability, security, longevity. As many Values embodied by Ethereumsolid despite its recent technical underperformance.
L'study underline that The majority of costs in Solana benefit the validators. Little value goes back to the token soil. Solana remains dynamic, but lack of reliability to attract large wallets. A serious project Not just built on Twitter enthusiasm.
The crypto-sphere often gets carried away quicklybut the institutions observe coldly. On this ground, Ethereum remains king. Nothing seems to indicate a real structural succession for the moment.
Solana shines, but Ethereum built
Despite the doubts of Sygnum, Solana garnished visible victories. More staking than Ethereum, domination of the Layer 1 fees, rise in TVL: The figures impress. The Crypto community loves these clipping titles.
On the networksSolana exceeds Ethereum in presence. But as often, appearance can hide fundamental weaknesses. Blackrock, via his fund Buidlguard 93 % of its assets on Ethereum. This choice is not trivial. It reflects confidence in the structure and regulation of Ethereum.
Tokenization, stablecoins, deffi: Ethereum remains dominant in serious uses. The projects supported by governments, banks and traditional actors are turning to him. Solana can shine for a moment, but Ethereum remains anchored. Like ancient empires, it does not vacillate so easily. His foundations are made to last.
The “Ethereum Killers” pass, Ethereum remains. A throne does not overthrow memes, but with lasting structures.
The figures do not lie
Sygnum recalls that despite Solana's embellish Ethereum continues to dominate on the essentials. Ethereum's income is 2 to 2.5 times higher than those of Solana. Even loss of speed, it remains ahead of tokenization (57 %) and stablecoins (> 50 %). Recent figures:
- Solana is growing in deffi: market share spent from 9.5 % to 11.5 %;
- Stablecoins on Solana: 5 %, against more than 50 % for Ethereum;
- Tokenization: Solana remains within 3 %.
These differences are structuring. They show the depth of the ditch between the two chains. Solana impresses, but remains young. Its economic model is still running. A proposal to reduce soil inflation has been rejected. This illustrates the lack of long -term consensus.
Ethereum, for its part, adjusts its CAP with method. The pivot Strategic post-breaker already gives positive effects. The fight continues, but the heir must still learn the governance of the kingdom.
In the war of channels, Ethereum and Solana concentrate attention. But other crypto actors also advance. Binance, with its updates and reduced costs, traces its route. The future of the web3 will not be a duel, but a field of multiple conquests and coalitions.
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