A Crypto Investor Switched from Ethereum (ETH) to Solana (SOL), Anticipating Solana Outperformance
Anthony Pompliano, a prominent entrepreneur and investor, recently announced a strategic shift in his crypto portfolio. He divested his Ethereum holdings to invest in Solana, citing Solana’s potential to outperform Ethereum in the near future. Pompliano, known for his work as the host of The Pomp Podcast, elaborated on this decision in a recent YouTube podcast.
Pompliano, who initially ventured into the crypto space by mining Ethereum in 2016, has expressed confidence in Solana’s future performance, leading to his decision to reallocate his investments. Recent market data also indicates a shift in profitability and trading volume between Solana and Ethereum.
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Notably, Solana surpassed Ethereum in profitability for the first time on May 15, 2024, generating over $2 million in economic value as opposed to Ethereum, following the launch of Ethereum Improvement Proposal (EIP) 4844. A comparison of economic value trends indicated that Ethereum experienced a decline, stabilizing between $10 million and $15 million, while Solana’s volume surged.
In December 2023, Solana’s trading volume exhibited substantial growth, surpassing Ethereum’s volume on multiple exchanges for significant durations. Currently, Solana is trading at $153.00 with a 24-hour trading volume of approximately $2.29 billion and a market cap exceeding $70 billion. Meanwhile, Ethereum is valued at $3,527.78, with a 24-hour trading volume of about $14.2 billion and a market cap exceeding $423 billion.
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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
