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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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The U.S. Secretary of Commerce's company Cantor Fitzgerald announced that it supports this altcoin instead of Ethereum (ETH)!
The competition between the largest altcoin Ethereum (ETH) and Solana (SOL) continues. While both altcoins have their supporters, the investment bank Cantor Fitzgerald said it prefers Solana over Ethereum.
According to The Block's news, Cantor Fitzgerald stated that it supports Solana more as a treasury asset compared to Ethereum.
Analysts at Cantor stated that despite Ethereum's wider adoption and higher total value locked, Solana is a more sensible treasury asset than Ethereum.
At this point, Cantor, who stated that he focused on three companies that have adopted Solana as a treasury asset, listed them as DeFi Development Corp., Upexi, and SOL Strategies.
Analysts at Cantor stated that the basis of this view is Solana's stronger developer growth and its potential to enhance future on-chain finance.
Analysts stated that although they prefer Solana over Ethereum, they do not see SOL as a reserve asset similar to Bitcoin.
"Developer growth on Solana has recently far surpassed the growth on ETH, and we expect this to continue."
At this point, it makes sense to use SOL as a treasury asset instead of ETH. It is believed that SOL could surpass ETH, which currently has a market value approximately 259% higher.
Just as Bitcoin has solidified its position as a fundamental reserve currency or asset for the digital economy, we believe that Solana aims to be the technology that strengthens transactions and marketplaces in the digital economy.
We believe that SOL treasury companies are betting that the future of finance will be on-chain and that the preferred chain will be Solana.
Cantor recently set a target of 45 dollars for DeFi Development Corp., 16 dollars for Upexi, and 4 Canadian dollars for SOL Strategies.
*This is not investment advice.
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