Recent analysis by Fred Krueger highlights the application of stablecoins like USDC on Solana and Ethereum platforms. He believes Solana provides a better solution for everyday transactions.
Analyst's Opinion on Solana
Analyst Fred Krueger stated that the mass adoption of stablecoins on Ethereum is unlikely. He argued that Solana offers a more convenient platform for this purpose.
> "My gut feel is when Stablecoins really go mainstream, they go mainstream on Solana, not ETH. I don't see people using MetaMask and moving in and out of L2s on ETH to buy a coffee at Starbucks. I do see them using USDC on Solana." — Fred Krueger.
Criticism of Krueger's Position
Some critics pointed out that Bitcoin and Ethereum are also not widely used for retail payments, suggesting this won't be a determining factor for long-term adoption. One user remarked, "People don’t use BTC at Starbucks either," adding this won't be the reason Ethereum achieves mass adoption.
Current Status of the Solana Market
Currently, Solana (SOL) is trading at $177.58, up 1.24% from the previous day, extending its 17.05% monthly rally. The market cap stands at $95.77 billion, with a daily trading volume of $6.89 billion. A notable development is the launch of Glass Full Foundation, a memecoin launchpad on Solana aimed at enhancing liquidity for various ecosystem projects. Institutional interest in Solana remains strong, with reports of nearly $600 million in SOL purchases.
The debate over the practical use of stablecoins on Solana and Ethereum continues. Despite claims of one platform's advantages over the other, the final choice will also depend on users and their preferences.
