Yakovenko believes that when global resources are saturated, increasing fees is not a sustainable solution. Instead, he advocates for software that allows validators to upgrade their hardware to handle more traffic. Only local contention, where resources can’t be scaled up, should trigger higher user fees, he explained.
Ethereum's recent price surge has led to a decline in the SOL/ETH pair, highlighting Solana's underperformance compared to Ethereum. Despite Solana's strong growth, Ethereum continues to dominate the market. According to CryptoQuant’s CEO, Ki Young Ju, Ethereum is losing some market share to Solana, but ETH's dominance still overshadows competing Layer-1 chains.
A report by VanEck, published on September 25, predicts Solana could surge to $330, potentially reaching 50% of Ethereum's market capitalization. The report credits Solana’s faster transaction speeds, lower fees, and higher daily active users as drivers for its potential growth.
Solana’s price currently sits at $153.84, facing resistance at the $155 level. Recent data from CoinGlass shows a 24.88% increase in trading volume, indicating rising confidence in SOL. The Long/Short ratio of 0.9685 suggests traders remain optimistic about Solana’s short-term outlook.
Despite a minor 1% drop in Open Interest, Solana's strong ecosystem and upcoming Firedancer mainnet launch in 2025 position it for long-term growth.