Haotian | CryptoInsight
Haotian | CryptoInsight|Sep 03, 2025 08:32
I noticed an interesting phenomenon while browsing the English blogger circle: ETH Maxi and SOL Maxi are always in direct conflict, with ETH mocking SOL for their low adoption rate of stablecoins, while SOL ridicules Tom Lee for his low cognition and only knowing how to use Shill. That's so interesting. But in fact, I personally have a viewpoint: the competitive relationship between ETH and SOL has long ended with the collapse of the "Ethereum Killer" narrative. Why? 1) Ethereum's stable position as the big brother in the stablecoin market share is the result of multiple factors such as its comprehensive DeFi ecosystem and decentralized security technology foundation. This is also a leading advantage that mainstream stablecoins such as USDC and USDT have accumulated through years of market expansion, and this path dependence is difficult to change in the short term. But this does not mean that @ solana will completely lose the opportunity in the stablecoin arena. With the arrival of stablecoin Summer, stablecoin issuance will tend towards a multi chain environment, and a large number of new stablecoins such as USDe, USD1, PYAmerica, USDG, etc. will emerge. They will establish their own main camp in the expansion of DeFi economic activities. Solana, with its first mover advantage accumulated in new narrative scenarios such as PayFi, AI Agent, and HFT high-frequency trading, is not weak in the subsequent breakthrough of stablecoin increments. Therefore, relying solely on the market share of stablecoins to determine who is stronger or weaker is not solid; 2) Previously, new players such as Solana, Avalanche, BNBChain, etc. all focused on the narrative of Ethereum Killer, competing with Ethereum in terms of high performance and TPS arms race. However, now it is clear that TPS Show without effective ecological support cannot stand, so the narrative framework of high TPS has become desensitized. The new narrative logic is about who can drive the large-scale adoption of Wall Street structures. Ethereum, with its advantages of decentralization and secure architecture, will be the first choice for institutional asset allocation. However, Solana is taking a different path, first attracting incremental users in the Z era through the MEME cultural circle, and then optimizing with performance improvements such as Alpenglow consensus upgrade and Firedance client upgrade, which can increase transaction speed to within 150ms. In this way, Solana's ecosystem may see the emergence of new financial business innovation species similar to @ HyperliquidX, in order to bridge the gap between DeFi ecology and Ethereum. This targeted service to meet the demand for Wall Street financial products will obviously become Solana's advantage in overtaking the curve, much faster than Ethereum implementing its L1 performance improvement strategy. 3) It can be seen that the competitive dimension between Ethereum and Solana has already been completely misaligned. Ethereum will lock in its global financial settlement layer advantage and continuously consolidate its position, while Solana will anchor the vision of Nasdaq on the chain, relying on performance advantages and blue blood genes to continuously expand the integration scene of TradFi. To some extent, ETH Maxi will still see decentralized and safe geeks glow, while SOL Maxi will become a new leader in the Internet capital market ICM. Therefore, ETH Maxi and SOL Maxi do not need to confront each other at all, but rather have a complementary and coexisting relationship, just like Android and IOS. The former is open and inclusive but has a deep foundation, while the latter is closed and efficient but has a refined experience. The market will ultimately prove that the coexistence and advancement of SOL and ETH are only expanding the boundaries of Crypto. No matter how you stand in line, the result will not be bad. So I am Crypto Maxi!
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