Key Takeaways:
- Dogecoin founder Billy Markus popped a question on X asking users which among Ethereum (ETH) and Solana (SOL) was the superior cryptocurrency
- After urging his followers to answer the questions by sending either of the tokens to the Solana and Ethereum addresses he had shared, Markus received a combined total of $10,000 in SOL and ETH
- “Ethereum Killer” Solana has been the best-performing cryptocurrency of the year. The token has gained over 500% in value in just three months, placing itself as the fourth-largest crypto in the process.
- Solana even outperformed Ethereum in key areas such as DeFi and NFTs
Dogecoin founder Billy Markus has lit fire to an unexpected debate within the crypto community, prompting his followers to pick one from Ethereum or Solana as the superior cryptocurrency.
In a recent X post, the American software engineer who is known on X (formerly Twitter) as Shibetoshi Nakamoto, asked the question: “Which is better, Solana (SOL) or Ethereum (ETH)? My opinion on which one is better is whichever community tips me more!”
He also attached his SOL and ETH wallet addresses alongside the post and waited for a final verdict.
Dogecoin Founder Asks Crypto Community to Choose Between Solana and Ethereum
The response to Markus’s question was swift and quite astonishing. Within just five hours of putting up the post, his wallets amassed over $10,000 in ETH and SOL. His Ethereum address received $8,200 worth of funds, while his Solana wallet garnered nearly $2,000. The funds were sent in various tokens supported by both blockchains.
The gulf between Ethereum and Solana was out there for everyone to see as ETH donations dominated the figures, underscoring the Ethereum blockchain’s value among day-to-day crypto users. The so-called survey also provided insight into which cryptocurrency holds the distinction of being the super token.
Amidst the turf war, many community members donated a variety of Solana-based tokens such as Kizuna, Monkeyhaircut, Myro, Solana Beach, and others, which caught Markus by surprise.
The Dogecoin founder joked that things were getting out of hand due to the influx of unfamiliar tokens other than Ether and Solana. He also admitted to having limited knowledge about Solana. Except for its frequent appearance on the social media pages of crypto community members.
Crypto News: Solana (SOL) Surges By 300% Over Rival Ethereum (ETH) In Q4 2024
Solana Posts Remarkable Growth, Showcases Potential to Kill Ethereum in the Long Run
The unconventional face-off between Ethereum and Solana comes at a time when SOL is experiencing a remarkable resurgence in the market. Over the last three months, Solana has gained an astonishing 300% year-to-date against ETH – a level that has not been observed since December 2021.
Solana also outperformed Ethereum in one of its key sectors – decentralized finance (DeFi). In November, decentralized exchanges (DEX) deployed on the Solana blockchain hit $871 million in transaction volume, a 250% increase from the previous month, tipping the volumes on Ethereum-based DEX offerings.
Meanwhile, daily user activity on Solana also showed an increase of 400% compared to Ethereum’s modest 3% rise in the same period.
Despite being valued almost 9 times lower than the price of Ethereum, Solana is on a constant rise. According to the latest SOL/ETH price graph, 1 SOL is equivalent to 0.051 ETH ($110) at current rates.
Last week, Solana reached a milestone after tipping Binance Coin (BNB) to take fourth place in CoinmarketCap’s ranking for cryptocurrencies based on their total market capitalization. With a $47 billion market cap, Solana still trails far behind Ethereum, which is placed second with a $267 billion market cap at press time.
In the meantime, Ethereum also experienced a significant rise in value, crossing the $2,000 mark for the first time since April 2023. The world’s largest smart contract-based blockchain is steadily gaining ground as it follows Bitcoin’s upward trajectory.
At the time of writing, ETH is trading at $2,224.81 – down 0.5% in the last 24 hours. Meanwhile, SOL is trading at $111.69 – down 1% in the last 24 hours.
Crypto News: Optimism And Solana Drive Latest Crypto Surge
