One veteran trader warns that Ethereum (ETH)’s position as the dominant smart contract platform is not as solidified as many believe.
Pseudonymous trader, The Flow Horse To tell His 210,000 followers claim that Ethereum could be similar to Compaq Computer Corporation. Compaq Computer Corporation was the frontrunner in this field until it eventually folded and was acquired by HP in 2002.
He said the scenario of Ethereum succumbing to Solana (SOL) is “certainly growing.”
“The chances of Solana overtaking Ethereum are definitely increasing. Current trends and sentiment among ETH’s most ardent supporters suggest expectations for a natural mean recovery in ETH’s favor.
However, given how nascent the crypto market is, it is premature to declare which platform is the definitive leader. Like his Compaq in the early days of personal computing, ETH may currently enjoy prominence, but this does not guarantee lasting dominance. ”
Speaking of Solana, The Flow Horse also notes the exploding memecoin ecosystem on Ethereum's rival network, which has caused a significant spike in trading volume for Solana-based decentralized exchanges (DEXs). Masu.
The trader cautions not to discount Cat in a Dog's World (MEW), a new meme coin that could become mainstream on Coinbase before Solana's biggest meme coin, Dogwifat (WIF). I'm warning you.
“If things continue as they are, it looks like MEW will be listed on Coinbase before WIF.”
All kidding aside, don't get discouraged by this project that has piled up books, has an insanely high market cap, and appears out of nowhere.“
At the time of writing, Solana is trading at $197.71 and MEW is valued at $0.00519.
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