Tier 1 solutions like Polygon (MATIC) and Solana (SOL) to make Ethereum perform better, here’s why

  • (A cryptocurrency expert predicts that tier 1 solutions like Matic, Solana, and Terra are likely to be overtaken on Ethereum.
  • FXStreet analysts have predicted that the price of Solana will fall and rise to $ 330.

Recently, Nikolaos Panigirtzoglou, who became an expert on cryptocurrency at JPMorgan, said that Ethereum is no longer unique, as its main selling point – that developers can decentralize applications and build smart contracts on it – can be replicated and replication now.

It is not unique. You’re already seeing the contest from Binance, the contest from Solana. And there will be more to come.

Some cryptocurrency experts could no longer agree. Su Zhu, CEO and CIO of Three Arrows Capital, and Hasu at the heart of Podcast on Uncommon recently revealed that Ethereum is likely to surpass Tier 1 solutions like Matic, Solana, and Terra. This came after I noticed that a large number of institutional investors and large portfolio operators put more capital into those platforms.

Investors have recently doubled their interest in scalability solutions. This is reflected in the activities in the chain and the total value blocked in these networks. Over the past two months, the active management of Matic and Solana has grown significantly. Experts like Altcoin Sherpa, a cryptocurrency pseudonym analyst, agree on this.

Altcoin Sherpa Survey

According to a survey conducted by Altcoin Sherpa a few months ago, it was revealed that the majority of participants did not have Bitcoin in their wallets, because altcoins dominated their holdings. In addition, he said Tier 1 solutions will continue to outperform Ethereum.

There seems to be some confusion about what I am saying: I am not saying that ETH is falling; I actually think that the ETHBTC chart looks good. I am saying that other L1s are likely to be better than ETH given the general environment / 2021 evidence / current market trends.

Skale Labs CEO believes Ethereum Blockchain will continue to lead

However, Jack O’Holleran, CEO of development company Ethereum Skale Labs, believes that Ethereum is likely to remain a dominant decentralized financial blockchain in the face of forthcoming changes that will make it even bigger and faster.

The vast majority of smart contract developers are building on the Ethereum ecosystem. Despite the announcement of major partnerships across other chains, we continue to attract an absolute majority (developers) into ethereum maelstrom.

Panigirtzoglou previously said that Ethereum’s price should be more than 50 percent lower than its current price. If the hashrate and number of unique addresses understand the value of the asset, it should have a much lower trading price than the current one. You think that the current price is an exponential increase in usage and traffic that would not arise.

Currently, Solana’s market capitalization is more than twice that of Terra and Avalanche. Based on the Solana price trend, FXStreet analysts have predicted that the price will decline and rise to $ 330. On the other hand, Luna de Terra is expected to be the price discovery.

Etheruem at the time of publication of this article was just under $ 4,000, after a 3% price drop in the last 24 hours.

Jean Simmons

Jean Simmons has been a cryptocurrency enthusiast since 2014 and has been dedicated to the topic on a daily basis since she first learned about Bitcoin and blockchain technology. Besides cryptocurrency, Jean studied computer science and worked for two years at a blockchain startup. At Mercayala, he is responsible for technical issues. His goal is to bring cryptocurrencies to the world in a simple and understandable way.

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