A leading financial institution, the Bank of America, has predicted that Solana could become the “Visa of the digital asset ecosystem,” which would enable it to steal more of the market share of Ethereum’s blockchain.
Solana would eat into Ethereum’s market share
According to Alkesh Shah, an analyst at the Bank of America, Solana’s simplicity, alongside its speed plus its lower transaction fees, would continue to make it attractive for investors. This would enable it to continue to compete with Ethereum for investors’ and developers’ attention alike.
SOL, the native token of the Solana blockchain, has been one of the best-performing assets of the past year. The asset saw its price rise by over 4000% within the last year and it currently sits as the fifth largest crypto asset by market cap.
While Ethereum has continued to dominate DeFi and the NFT space as the most used blockchain, the network has witnessed heightened rivalry from rivals like Solana who boast higher transa
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