A crypto analyst has reignited the talk between Ethereum (ETH) and Solana (SOL), evaluating which cryptocurrency was more superior. Considering recent market trends and performances of each altcoins, the analyst has finally identified a transparent winner within the competition.
Solana Wins Battle Against Ethereum
In a recent X (formerly Twitter) post, legendary crypto trader and analyst, Peter Brandt drew a comparison between Solana and Ethereum, spotlighting their fundamental characteristics, strengths and weaknesses. Based on his evaluation, Brandt suggests that it was inevitable that one might be recognized because the clear winner or superior blockchain and cryptocurrency.
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Sharing a price chart of Solana/Ethereum, the analyst offered a critical view of Ethereum, highlighting several vulnerabilities which might be plaguing the blockchain. Despite being the second largest cryptocurrency by market capitalization, Brandt has described ETH as a difficult network to make use of, likely attributing this to its slow transaction speeds.
Source: X
He stated that Ethereum was expensive, cumbersome, and flawed. Furthermore, the analyst has forged doubts on Ethereum’s claim to decentralization, suggesting that the blockchain was not as decentralized because it presents itself to be.
However, Brandt praised Solana for its quite a few strengths and noteworthy characteristics. The analyst points out that Solana’s ability to supply high speed transactions at a fraction of the price of Ethereum was impressive.
Brandt also disclosed that Solana’s network was easier to make use of, making it more accessible to developers and users. Moreover, the analyst highlights that Solana maintains a robust technical base, possibly referring to the blockchain’s unique Proof Of History (PoH) consensus mechanism.
From the analyst’s perspective, Solana’s strong fundamentals and superior functionalities gives it a significant edge over Ethereum. He concluded his evaluation with a daring prediction, stating that Solana could gain 100% in value relative to Ethereum within the months ahead.
This underscores the analyst’s belief that Solana could potentially outperform Ethereum out there. While Brandt’s comparison of Ethereum and Solana may suggest a bias against Ethereum, the analyst has clarified that he actually doesn’t dislike ETH.
ETH Forms Death Cross While SOL Surges To $160
A crypto analyst identified as ‘KickEx’ revealed in an X post that Ethereum and Bitcoin are forming a death cross on their respective price charts. The analyst notes that ETH’s recent market crash has led to the formation of a worrisome technical pattern.
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KickEx has disclosed that if the death cross pattern plays out, Ethereum may experience an enormous price decline within the liquidity range of around $2,000 per coin. On the time of writing, the cryptocurrency is trading at $2,682, reflecting a ten.84% increase, based on CoinMarketCap.
While Ethereum’s price faces a potentially bleak future outlook, Solana has been performing relatively well out there. The cryptocurrency recently hit the $160 price level, marking an increase of over 10%. Although the cryptocurrency has since retreated to $157, Solana continues to indicate strong bullish signals amidst market downtrends.
SOL price holds $150 | Source: SOLUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com