Analyst Ignas: If Solana adopts a Layer 2 expansion model similar to Ethereum, SOL could become the new ETH

2024-09-03 14:01:35

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ChainCatcher news, DeFi analyst Ignas stated that Solana is facing a critical turning point, as its transition from a monolithic blockchain to a modular architecture has sparked industry discussions.

Ignas pointed out that this transition could affect Solana's positioning within the cryptocurrency community, with the key being whether the concept of "network scaling" can gain recognition. During this bull market, ETH is positioned between BTC and SOL. He believes that if Solana adopts a Layer 2 scaling model similar to Ethereum, SOL could become the new ETH. However, this depends on how the new architecture impacts the actual performance of the Solana ecosystem.

Ignas warned that if Solana faces issues such as liquidity fragmentation, its position could become uncertain. Furthermore, speculators may turn to chase "network scaling" tokens within the Solana ecosystem rather than SOL itself, which could hinder SOL's price growth.

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