If You Missed Ethereum in 2021, This Token Is Your Second Chance

The Next Ethereum                                                                                                                                                                                                                                                                                                                                                                                                                 October 09, 2024 | [Listen Online]( | [Read Online]( [Teeka Tiwari]( & Houston Molnar mailto:?subject=Post%20from%20The%20Digital%20Asset%20Daily&body=If%20You%20Missed%20Ethereum%20in%202021%2C%20This%20Token%20Is%20Your%20Second%20Chance%3A%20The%20Next%20Ethereum%0A%0Ahttps%3A%2F%2Ftiwariresearchgroup.com%2Fp%2Fif-you-missed-ethereum-in-2021-this-token-is-your-second-chance If You Missed Ethereum in 2021, This Token Is Your Second Chance By Houston Molnar In 2007, Microsoft’s then-CEO made a trillion-dollar mistake… When asked about the newly released iPhone's impact on the mobile phone market, Steve Ballmer nearly fell out of his chair laughing. Five hundred dollars? Fully subsidized? With a plan? That is the most expensive phone in the world. And it doesn’t appeal to business customers because it doesn't have a keyboard, which makes it not a very good email machine. (You can watch a short clip of the interview [right here.]() Ballmer didn’t believe a phone priced hundreds of dollars above existing devices would be a serious threat to Microsoft – or so he thought at the time. Looking back, it’s shocking how the CEO of a company like Microsoft could just laugh off his biggest competitor. While Microsoft is one of the most successful companies in the world today, its mobile device sales are practically nonexistent. On the other hand, Apple dominates the mobile market with nearly 28% of device sales. Ballmer isn’t the only short-sighted executive who got his comeuppance. In 2000, Netflix co-founder Marc Randolph offered to sell his then-startup to Blockbuster for $50 million. According to Randolph, Blockbuster executives “laughed us out of the room.” John Antioco, Blockbuster’s CEO at the time, dismissed the offer, considering Netflix a niche business and downplaying the significance of the dot-com era. Today, Netflix is one of the largest tech companies in the world with a market cap of over $305 billion. Blockbuster is now extinct. Whether you’re the CEO of a company or an investor, dismissing your competition is often a costly mistake. Especially when that company is innovating and picking up support and adoption in a shifting world. The reason I’m telling you this is because one blockchain that everyone wrote off as dead just last year is making the greatest comeback story you’ll ever see. It became a laughingstock of the crypto sphere when it fell from a high of $208 in November 2021 to as low as $9 nearly a year later. Today, developer and user adoption are skyrocketing. And it’s now among the Top 5 tokens in terms of market cap. If you don’t own this token today, you should consider adding it to your portfolio right now. That’s because from what I’ve witnessed, it’ll become a blue-chip crypto asset alongside bitcoin… But most people haven’t realized its true potential yet. The Next Ethereum Earlier this year, I attended Bitcoin 2024 in Nashville. It’s the largest bitcoin conference in the world. (You can read my full write-up [here.]() Despite being a bitcoin conference, all the buzz was around another token: Solana (SOL). This was a huge shift in sentiment – given SOL had experienced one of the greatest crashes in crypto history. If you’re not familiar with Solana, it’s similar to the Ethereum network. Some of its use cases include DeFi apps, non-fungible token (NFT) exchanges, and data storage. Over the past year, Solana has gained more attention and usage than any other blockchain network, including Ethereum. Solana has roughly 86 million monthly active users compared to 12.3 million for Ethereum. That’s 7x more. The main reason Solana has surpassed Ethereum in terms of monthly users is because it’s faster and cheaper to use. It can cost just a fraction of a cent to send a transaction over the Solana network. And transactions settle in just seconds. By comparison, it can cost between $3 and $8 to send a transaction on Ethereum. The increase in usage and adoption is showing up in Solana’s price. From its December 2022 lows, SOL is up 1,404%. But many in the crypto space continue to dismiss the Solana network as a fad that will disappear. Capital.com ran the headline, “Solana price plunge: End of SOL without FTX and Alameda support…” as SOL’s price crashed in 2022. U.today wrote: “Is Solana (SOL) Being Abandoned by Its Developers?” in December 2022. And Cumberland, a crypto trading firm, called the Solana ecosystem “dead on arrival” last year. That’s why last month, I flew 10,538 miles to Singapore to attend Breakpoint 2024, the largest Solana conference in the world. I wanted to see firsthand if Solana was truly a zombie token or preparing to rise from the ashes. At the conference, I met with developers, founders, and venture capitalists to discuss the latest developments on Solana and what we can expect in the months ahead. Fireside chat with PayPal Conference Hall at Breakpoint 2024 After attending the conference, I couldn’t be more bullish on this ecosystem. Hackathons where developers get together were standing room only… VC firms were everywhere, looking for the next Solana-based startup to invest in… And for the first time, I saw more consumer-facing apps being put forward than infrastructure projects. Consumer-facing apps focus on a seamless user experience, something we expect from every code-based app we use from Facebook to Netflix to banking... But that feature was missing from crypto apps – until now. But what really blew me away was the amount of institutional capital coming into Solana. Previously, Wall Street firms and fintech companies were mainly focused on bitcoin and Ethereum. Now, Solana is joining this elite group of crypto darlings. Solana Is Quickly Becoming a Wall Street Favorite Earlier this year, we saw major players like BlackRock and Fidelity launch bitcoin and Ethereum spot exchange-traded funds (ETFs). And companies like Visa and JPMorgan are testing Ethereum’s technology to see if it can improve their settlement capabilities. Previously, outside of bitcoin and Ethereum, you’d be hard pressed to find the titans of Wall Street adopting or building on other networks. But during my trip to Singapore, I saw firsthand that’s changing. Here’s why that’s so important. When Daily editor Teeka Tiwari first recommended Ethereum in 2016, it was a way to gain exposure to the burgeoning and innovative blockchain development space. The blockchain is simply the next iteration of the internet. And I believe the next stage of transformational software development will happen on the blockchain. As he predicted, Ethereum became the world’s most widely used blockchain development platform. Over the years, we’ve seen numerous applications built on the Ethereum network. But now, institutions see Solana as a serious competitor to Ethereum and are starting to adopt Solana’s technology. Here are a few examples I saw at Breakpoint 2024 in Singapore: - Citi’s head of digital assets, Mark Attard, announced the bank is exploring using Solana’s technology. Citi is the fourth-largest U.S. bank with over $1.7 trillion in assets. - Franklin Templeton, the seventh-largest asset manager with $1.7 trillion in assets under management, plans to launch a money market fund on the Solana network. It chose Solana due to its fast speeds, low costs, and advanced development tools. - Société Generale, one of Europe’s largest financial services companies with over $160 billion in assets under management and 25 million customers, announced it’s adding support for Solana with its EUR stablecoin. This will be the first Markets in Crypto Assets (MiCA)-compliant stablecoin issued by a bank. MiCA is a regulatory framework created by the European Commission focused on maintaining financial stability. One of the most exciting developments I heard at the conference concerning Solana is flying completely under the radar of the mainstream media. Earlier this year, BlackRock launched a $500 million fund on Ethereum to tokenize U.S. Treasuries. It was yet another sign of institutions flocking to Ethereum. And at the conference, Securitize – the company helping BlackRock bring assets on-chain – announced it will add support to Solana. This will allow BlackRock to launch tokenized treasuries on Solana like it did with Ethereum. Plus, major fintech players like PayPal, Visa, Circle, and VanEck have launched or announced intentions to launch products on the Solana network. As you can see, Solana is making massive headways and Wall Street is positioning Solana as the next Ethereum. If You Missed Ethereum’s Rise, Solana Is Your Second Chance When Teeka recommended ETH in April 2016, it was trading near $9. Since then, it’s seen peak gains of 54,100%. That’s enough to turn $1,000 into $542,000. Today, Ethereum is valued at $300 billion. On the other hand, Solana is valued at $70 billion. Given their valuations, we believe SOL has far greater upside from here than ETH. For that reason, I believe owning Solana will be like owning Ethereum during the last cycle. In my view, SOL is the lowest-risk, highest-reward play in crypto outside of bitcoin. If you missed Ethereum last cycle, Solana is your second chance to make outsized returns without having to take outsized risks normally associated with smaller altcoins. That doesn’t mean you should go out and bet the farm on it, though. Solana is still a highly volatile asset. So you should only risk what you’re willing to lose. Today, Solana is widely known for its meme coin culture. But I believe those who are laughing it off and dismissing it as a serious competitor to Ethereum for this reason are making a costly mistake. Just like Steve Ballmer laughing off the iPhone in 2007 and Blockbuster dismissing Netflix in 2000 because they didn’t see the bigger picture. I couldn’t be more bullish on the developers, Wall Street adoption, and apps being built on the Solana network following my trip to Singapore. If you don’t own Solana (SOL) already, consider adding it to your portfolio today. Disclosure: I (Houston) own Solana (SOL). Regards, Houston Molnar P.S. As capital flows into Solana, it starts percolating through the entire ecosystem and sending altcoins built on Solana’s technology radically higher. And there’s a specific niche of the crypto market we believe will benefit from Wall Street’s massive financialization of bitcoin and other digital assets. If Solana goes up 2x this cycle, we can see these tokens go up 10-50x. Teeka recently held a special briefing about these tokens and a once-in-a-generation phenomenon that will completely reshape the crypto landscape. [You can stream the play right here.]( Share The Digital Asset Daily You currently have 0 referrals. [Click to Share]( Or copy and paste this link to others: [ [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 2024 Tiwari Research Group 1607 Ponce De Leon Ave San Juan, Puerto Rico 00909, Puerto Rico [Terms of Service](