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26 May 2022
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Ethereum

Ethereum Competitors Are Expected To See Massive Growth This Year

It’s been revealed that Ethereum competitors are expected to see some massive growth this year. Check out the latest reports about the price of the coin here.

It’s been just reported that the digital asset investment giant Pantera Capital is giving a bullish outlook for Ethereum (ETH) rivals like Solana (SOL) and Near in 2022.

Pantera partner Paul Veradittakit explained that rival smart contract platforms are eating away the market share of Ethereum.

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This accounts for just 63% of the total value locked (TVL) in decentralized finance (DeFi), down from 97% at the start of 2021.

Veradittakit made sure to explain that Solana (SOL), which aims to be a faster and cheaper alternative to Ethereum, is particularly primed to grow in 2022 fueled by the increasing number of projects in its ecosystem.

“Solana, which offers unparalleled transaction throughput, saw an incredible 2021, reaching a peak TVL of $15 billion and a peak price of $260 in November versus $0.22 when it began trading in April 2020.”

He continued and said:

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“Recent activity in the Solana community, including the launches of massive funds for decentralized social media and gaming, suggests that the ecosystem will continue to grow immensely in the coming year.”

Veradittakit said that Near, which in April launched the Rainbow Bridge that enables the transfer of crypto assets between blockchains, is also set for explosive growth.

Ethereum enters hard money game

It seems that Ethereum has already entered the hard money game as said on Twitter. Check out the latest reports and explanations below.

There is info coming from Glassnode, as you will see below.

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At the moment of writing this article, ETH is trading in the red, and the coin is priced at $2,230.

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