ETH gets hate, but SOL isn’t in a much better spot: Sure, Solana generates similar fees, and it’s cheaper and faster. Its monolithic design also doesn’t suffer from L2 leakage like Ethereum. But Solana doesn’t have the same neutrality, decentralization, or censorship-resistant premium that Ethereum has. Worse, we make fun of the EF for dumping ETH, but we don’t even really know how much the Solana Foundation holds (and sells) in SOL. Their last 'Transparency Report' was published in Aug 2020 Whales also seem to prefer Ethereum for high-value DeFi: Solana has ~$5.2B in TVL vs ~$42B on Ethereum. Even BNB Chain has more. Solana benefited from memecoins, but it hurt its reputation. And the pivot to perps is a crowded arena, with HL and all major CEXs competing for it. Tokenization of stocks is amazing, but Ethereum leads in RWAs too. I still hold some SOL and want it to do well, but it’s possible SOL is the new ETH, and it may take Solana years to find its next engine for growth.(Ignas | DeFi)