Economist Alex Krüger Believes Ethereum Rival Solana is Undervalued
Economist Alex Krüger suggests that Solana (SOL), a competitor to Ethereum (ETH), is currently undervalued. In an interview with Bitcoin Suisse’s podcast Verified, Krüger points out that Solana has a more active ecosystem than ETH and greater potential for growth. He predicts long-term upward momentum for SOL.
The Perfect Chain for Retail Risk Taking
Krüger emphasizes that Solana is the ideal blockchain for retail investors who are interested in taking risks. He highlights the success of memecoin WIF on Solana, which generates $40-$50 million in daily trading volume and $100,000 per day in fees. In contrast, there are no memecoins on the ETH side with trading volumes exceeding $3 million per day. This demonstrates the strong product-market fit of Solana for retail investors.
Innovation and Native Communities
According to Krüger, the two main chains with strong native communities are ETH and Solana. He believes that there will be more innovation happening on Solana compared to ETH due to its speed and low transaction costs. Krüger mentions Hivemapper as an example of a good application that exists on Solana but not on ETH.
Solana’s Current Price
As of now, Solana is trading at $115.80, experiencing a 4% increase in the past 24 hours.
Optimistic Outlook for the Crypto Market
Krüger remains bullish on the overall crypto market and advises investing rather than trading, as he believes valuations have not yet adjusted from 2023 levels.
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.