Solana’s network briefly exceeded Ethereum in the total value of its native tokens, SOL and ETH, causing a debate about whether it is actually stubborn or bears for Solana.
Above USD 53.9 The value of a billion is now set on the Solana network from 505,938 unique portfolio owners who create 8.31% Blockchain data shows that an annual return on blockchain.
This number was shortly overtaken by Staned Eth Market Cap on April 20, which currently has $ 53.93 billion secured from $ 34.7 million tokens, beaconcha.in data can be seen.
The factor contributing to flipping was the mighty price efficiency of Sola compared to ETH over the past two years, in which the SOL/ETH price indicator has increased almost ten times from 0.0088 to 0.0866 from June 12, 2023, Coingcko, Coingcko, Coingcko data can be seen.
High Sol Staking Return is a suffocating Solana DEFI, experts say
However, “risk-free” 8.31% return to Sol Stakers at the network level-significantly higher than 2.98% ETH-can attract Solan users from DEFI activities, such as ensuring fluidity of automatic market creators and credit protocols in exchange for prizes for token.
“Solana, having 65% of her market, means that there is no other token, there is actually bear”, a developer of the Build protocol and the user X “JC” he said.
Bronze data It shows that Ethereum is worth $ 21.5 billion in ETH tokens compared to only $ 7.22 billion of liquid free evil for salt.
Multicoin Capital Managing Partner Tushar Jain he said The fact that Solana DEFI has been strangled because there is no rational investment in something that causes a lower return than the “risk -free” investment.
“It makes no sense to ensure liquidity on AMM SOL/USDC when it can earn 5%, but Staking earns 7%.”
Ethereum also dominates in terms of total blocked USD 50.4 Million compared to $ 8.85 billion solar.
Also industry experts pointed Out that there are still many more validators securing the Ethereum network on the website 1.06 Million compared to Solana 1 243.
Solana is not really packing, the Ethereum researcher argues
One of Ethereum researchers said that Solana Staking does not really protect the Solana network, because there is no mechanism for punishing bad actors for malicious behavior.
“It’s very irony, calling it” putting “when there is no cut. What is it about?” Dankrad Feist he said In the post of April 20.
“Solana currently has close economic security.”
Solana Labs he said Slashing is already possible, but it is not automatic, and the attacker’s assets can only be reduced by restarting the entire network.
Related: The price of Ethereum in the “cursed” abandonment, which can continue 2025 – analyst
Solana wants to introduce a more comprehensive cutting solution this year, According to Kyle Samani, the Capital Capital managing partner.
General Director of Solana Labs Anatoly Yakovenko he said He pressed the “correlated cut” mechanism, in which the punishment would be equal to the square of the difference between the defective Walidator package in the epoch and the median network of the arrested walidator.
Meanwhile, developers and Ethereum researchers examine the ways of decentralization of Ethereum.
Many Stakers Ethereum has resorted to liquid protocols over the past few years due to a minimum of high ETH (50,750 USD) needed to start independent validation.
However, this change led to the registration of the LIDO protocol in an 88% share in the liquid staking market of Ethereum, adding another layer to the fears of Ethereum in centralization.
Warehouse: Return 2025: Is Ethereum ready to catch up with Bitcoin and Solana?
