The competition between two major altcoins—Ethereum and Solana—continues to intensify. Recently, investment bank Cantor Fitzgerald expressed its support for Solana as a more preferred treasury asset.
Preference for Solana over Ethereum
Cantor Fitzgerald indicated in its analysis that Solana represents a more logical choice as a treasury asset compared to Ethereum. Despite Ethereum's wider recognition and larger total locked value, the bank's analysts believe Solana has the potential to foster developer growth.
Companies Supporting Solana
Cantor analysts highlighted three companies that have currently adopted Solana as a treasury asset: DeFi Development Corp., Upexi, and SOL Strategies. These companies are betting on the future of finance being on-chain.
Market Potential and Evaluation
Cantor's analysis revealed that developer growth on the Solana platform has significantly exceeded that of Ethereum recently. They forecast that Solana has strong potential to someday surpass Ethereum, which currently has a market cap approximately 259% higher. Cantor set target prices for the companies: $45 for DeFi Development Corp., $16 for Upexi, and $4 CAD for SOL Strategies.
Thus, while Cantor Fitzgerald prefers Solana as a treasury asset, they emphasize that SOL is not viewed as a reserve asset like Bitcoin. Only time will tell if Solana can indeed emerge as the leading platform in the digital economy.
