Anthony Pompliano, the well-known American entrepreneur and investor, has made a bold move by selling his Ethereum holdings to invest in Solana. This decision, driven by his belief in Solana’s potential to outshine Ethereum, was shared in a recent Youtube podcast by Pompliano, who is also recognized for hosting The Pomp Podcast.
Pompliano, who initially delved into the world of cryptocurrencies by mining Ethereum in 2016, has now shifted his focus to Solana. This change in his crypto portfolio comes as a result of recent developments that have instilled in him a strong sense of confidence in Solana’s future performance.
The comparison between Ethereum and Solana has been a topic of interest, especially with recent market data indicating a changing landscape. Solana’s profitability surpassed Ethereum’s for the first time on May 15, 2024, as reported by The Crypto Basic. On-chain analyst Leon Waidmann highlighted Solana’s economic value exceeding $2 million, overtaking Ethereum following the implementation of Ethereum Improvement Proposal (EIP) 4844.
A chart from Blockworks showcased the economic value trends for both Solana and Ethereum from February to May 2024, revealing fluctuations in Ethereum’s figures while Solana’s value remained steady. In December 2023, Solana’s trading volume also witnessed significant growth, surpassing Ethereum on various exchanges for consecutive days, including major platforms like Kraken and Coinbase Global Inc.
Currently, Solana is trading at $153.00 with a 24-hour trading volume of approximately $2.29 billion and a market cap of over $70 billion. In comparison, 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.
It is important to note that the content presented is for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic holds no responsibility for any financial losses incurred.