Solana Surges Past ₩160,000 as Multicoin Forecasts Market Cap Supremacy

Solana has reclaimed the ₩160,000 level for the first time in about eight months, showing renewed strength. The token climbed as high as ₩161,600 (approximately $120) on South Korea's Bithumb exchange earlier in the session.

Kyle Samani, co-founder of crypto investment firm Multicoin Capital, has projected that Solana's market capitalization will surpass Ethereum during this market cycle. He questioned Ethereum's actual user base, stating 'nobody is actually using Ethereum today.'

The logic behind Samani's forecast is straightforward: crypto companies going forward are likely to choose Solana over Ethereum for reasons of ease of use and functionality. The market cap gap between the two assets currently stands at roughly fivefold.