Should SOL be Trading at a 70% Discount to ETH?

Quick Summary:

In January 2023, solana was trading at a 97% discount to ether's market capitalization, but this gap has narrowed to a 70% discount over the past two years.

Despite the decreasing discount, solana is starting to rival ether in terms of on-chain activity and network usage metrics, raising questions about whether the market is still dislocated, says Michael Nadeau.

Solana’s TVL is currently $8.2b: 12% of ether + the top L2s.4.1% of ether’s stablecoin supply (up from 3.

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Article Details

Author / Journalist: Michael Nadeau

Category: Crypto

Markets: United StatesCuba

Topics: DeFi Opinion Solana Layer 2s TVL DEX Newsletters Decentralized exchanges

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 16:19:52 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 397 words

Reading Time: 3 minutes read

Sentences: 39 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 23907870

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