Ethereum

Solana

Uniswap

Bitcoin

Read

<div class="cryptonews">
 <p class="is-style-lead">Although investors ‘have been heavily’ allocating to Solana throughout 2023, Ethereum will still be the top smart contracts platform in 2024, Coinbase says.</p>
 <p>In a new report titled “2024 Crypto Market Outlook,” Coinbase noted that throughout 2023 net fund inflows to Solana-related (SOL) investment funds were second only to Bitcoin (BTC), surpassing Ethereum (ETH) and other multi-asset funds flows.</p>
 <p>Analysts at the U.S.-based crypto exchange attributed the surge in Solana investment to the network’s ability to handle high transaction volumes and low fees, which they say are necessary to support a new wave of highly performant applications.</p>
 <blockquote class="wp-block-quote">
  <p>“Indeed, we believe that improved transaction throughput and lower fees are necessary to improve UX to onboard a series of new use cases, and Solana has an early lead in that regard.”</p>
  <p>Coinbase</p>
 </blockquote>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> 21Shares: Avalanche, Solana, Uniswap topped crypto price growth in November
 </div>
 <p>Despite the growing popularity of Solana, Ethereum is still the most important smart contract platform in the cryptocurrency space, Coinbase noted. Processing an average of around 1 million transactions per day and maintaining a consistent daily transfer volume between $1 billion and $3 billion, Ethereum’s status as the top platform for decentralized applications “may not be displaced anytime soon,” Coinbase claims.</p>
 <p>As of press time, ETH is trading at $2,280, demonstrating a 91% year-to-date increase, according to CoinGecko data. Solana’s SOL is trading at $78.3 with a staggering 697% increase in 2023.</p>
 <p>Coinbase noted though that while Ethereum <a rel="noopener noreferrer nofollow" title="dominance" href="https://thebittimes.com/tag/dominance.html">dominance</a> in the smart contract space is likely to <a rel="noopener noreferrer nofollow" title="persist" href="https://thebittimes.com/tag/persist.html">persist</a> in the near future, Solana’s scalability and performance could make it a viable alternative for some use cases in 2024.</p>
 <p>The exchange’s experts added that in addition to Solana, a group of other layer-1 networks such as Aptos, Sui, Sei, and others are likely to increase competition in the space as they “handle scalability demands at the base layer.”</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> JPMorgan: Bitcoin ETF’s impact overstated, Ethereum set to surprise skeptics
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-s-dominance-to-persist-despite-solana-s-investor-appeal-coinbase-says-tbt73789.html">https://thebittimes.com/ethereum-s-dominance-to-persist-despite-solana-s-investor-appeal-coinbase-says-tbt73789.html</a></p>

Ethereum’s dominance to persist despite Solana’s investor appeal, Coinbase says

TheBitTimes

Other articles published on Dec 15, 2023

First Trust Submits Filing for Innovative Bitcoin Buffer ETF

Safemoon Files For Chapter 7 Bankruptcy Amid Allegations of Fraud

Russia’s Game-Changing Move: Bitcoin as a Commodity

Bonk Emerges as the Dark Horse With 107% Surge

Massive Bitcoin Options Expiry Approaches

Crypto Market Prediction 2024: Timeline for All Key Events

Join our free newsletter for daily crypto updates!