The Solana coin (SOL), which was once heralded as the “Ethereum killer” more than two years ago, has made a surprising comeback and strengthened its reputation by achieving an astounding 300% increase versus Ethereum (ETH) in the last few months.
A paradigm change has occurred in the cryptocurrency industry when SOL’s value surged by an incredible 440%, reaching a peak of $118.3, a level not seen since April 2022.
The SOL/ETH price graph had an unheard-of rise at that time, hitting 0.051 ETH each Solana coin. Since December 2021, this rise has not been seen, and the tendency does not appear to be slowing down.
Interestingly, during Solana’s explosive ascent, Ethereum was comparatively stable, giving rise to conjectures that Ethereum’s supremacy may be ending.
Flippening, but Solana flips Ethereum
Analysts are starting to wonder if Solana will topple Ethereum once and for all. Talks regarding a possible change in the cryptocurrency hierarchy are all over the media these days. Some people are even speculating that Solana will lead the way and ETH will be relegated to the past.
Solana’s incredible surge has brought it 20% closer to its all-time high in relation to Ethereum’s price, even while Ethereum only showed minor growth in reaction to the market dynamics.
Currently, the unanswered issue is if Solana can live up to its reputation as the “Ethereum killer” and set a new record high. ETH, however, has a difficult time catching up to the recent decline.
Given Solana’s recent rise to popularity, industry watchers are wondering if the cryptocurrency space is seeing a default move towards the cutting-edge blockchain technology.
