Anthony Pompliano, a prominent American entrepreneur and investor, has made a strategic move in his cryptocurrency portfolio by selling his Ethereum holdings to invest in Solana. This decision was highlighted by Altcoin Daily, with Pompliano discussing his rationale in a recent Youtube podcast, where he expressed his belief in Solana’s potential to outperform Ethereum in the coming days.
Pompliano, who is best known for hosting The Pomp Podcast, revealed that he initially ventured into the world of cryptocurrencies by mining Ethereum back in 2016. However, recent developments have led him to shift his focus towards Solana, showcasing his confidence in the future performance of this emerging digital asset.
The comparison between Ethereum and Solana is gaining traction in the market, with recent data indicating a noticeable shift in profitability and trading volume between the two cryptocurrencies. According to The Crypto Basic, Solana surpassed Ethereum in profitability for the first time on May 15, 2024, generating over $2 million in economic value following the launch of Ethereum Improvement Proposal (EIP) 4844.
A detailed chart by Blockworks showcased the economic value trends of Solana and Ethereum from February 14 to May 12, 2024, illustrating Ethereum’s decline from a peak of $40 million in late February to just under $2 million by mid-May. On the other hand, Solana has been experiencing remarkable growth, with its trading volume surpassing Ethereum on various exchanges such as Upbit, MEXC, Kraken, and Coinbase Global Inc.
Presently, Solana is trading at $153.00 with a 24-hour trading volume of approximately $2.29 billion and a market cap exceeding $70 billion. In comparison, Ethereum is valued at $3,527.78 with a 24-hour trading volume of about $14.2 billion and a market cap of over $423 billion.
It is essential to note that the information presented in this article is for informational purposes only and should not be construed as financial advice. The opinions expressed are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic holds no responsibility for any financial losses incurred.