Solana Set to Overtake Ethereum, Says Multicoin Capital Co-Founder

Kyle Samani, co-founder of Multicoin Capital, predicts Solana's SOL token will surpass Ethereum's ETH in market capitalization during this market cycle. He believes that more crypto companies will choose to build on Solana due to its ease of use and greater functionality.

Samani claims that 'no one' uses Ethereum today, with its large market cap maintained by stablecoins and those borrowed against Ether as collateral. This assertion comes despite the two tokens largely moving in lockstep during recent market fluctuations.

However, Solana's rise is coming from a smaller base, and it has seen a larger decline in the bear market, falling 59% over the past year compared to Ethereum's 45% decline.