The crypto enterprise agency Pantera Capital says Ethereum’s shedding steam as Solana has turn into a “main contender for the way forward for blockchain growth.”
Pantera Capital, a crypto enterprise capital agency managing billions in belongings, reportedly eyeing a purchase order of tens of millions value of SOL from the bankrupt FTX alternate, seems to be more and more highlighting Solana’s potential over Ethereum to buyers.
Tokens rolled out on decentralized exchanges by chain | Supply: Pantera Capital
In a Jun. 18 publication, the Menlo Park-headquartered enterprise capital agency stated Ethereum’s dominance “seems to be yielding to the multi-polar mannequin,” pointing to Solana as a brand new outstanding product that gained “important share over the previous yr.”
“The shift is paying homage to Microsoft’s dominance of the early desktop pc market, till Apple broke by with its vertically built-in strategy. Solana is now a serious contender for the way forward for blockchain growth.”
Pantera Capital
You may also like: Solana community resumes operations following prolonged outage
Drawing parallels to Apple‘s breakthrough within the early days of non-public computing, Pantera likened Solana’s built-in strategy to Apple’s vertically built-in technique with macOS, saying the community’s monolithic structure has a product roadmap “targeted on optimizing each element of its personal blockchain.”
Buying and selling volumes in contrast between Ethereum and Solana | Supply: Pantera Capital
The enterprise capital agency says Solana’s “architectural benefits” allow a variety of use circumstances and consumer experiences that “could also be tougher to implement on modular blockchains like Ethereum and Cosmos,” citing Solana’s “quick, low-cost transactions.”
“Solana’s architectural benefits are enabling it to seize an outsized share of the brand new demand coming into the blockchain area, accelerating its ascent as a rival to Ethereum.”
Pantera Capital
The agency’s endorsement of Solana follows stories saying that Pantera Capital was among the many bidders for SOL tokens auctioned by FTX throughout its chapter proceedings earlier this yr, shopping for a major stake within the tokens. Reviews point out that Pantera Capital was thinking about shopping for auctioned SOL tokens amounting to as a lot as $250 million, though the exact quantity acquired hasn’t been disclosed.
Learn extra: Sonic raises $12m to drive Solana gaming ecosystem
