Solana (SOL) co-founder Anatoly Yakovenko says the project’s biggest competitor is now Coinbase’s Ethereum (ETH) 
$2,472 He shared his opinion that it is a scaling solution. In an interview on the Unchained Crypto YouTube channel, Yakovenko stated that Coinbase’s Base platform has become the biggest competitor for Solana.
Other Competitors and Solana’s Position
Yakovenko said Base is Solana’s closest competitor in terms of network activities. Price, features and content are important components in Solana’s product-market fit (PMF). He stated that Ethereum’s weak area is price and that Solana offers more affordable fees for users:
“Base is probably the closest competitor right now, looking at the event. Ethereum’s weak area is price, and Solana offers affordable prices that Ethereum cannot match, just in terms of user fees…”
Yakovenko noted that the unique aspect of Ethereum is the assets mined there, which has partially shifted towards Solana. He also added that the biggest competition against the Solana ecosystem is Base:
“What’s unique about Ethereum is the assets mined here. I think this partly boils down to Solana. Base is the biggest competition to the Solana ecosystem.”
Yakovenko stated that layer-1 platforms such as Sui (SUI) and Aptos (APT) have also made significant progress and are approaching Solana in terms of features and price. However, he noted that the huge difference Solana provides from Ethereum has now become unsustainable:
“Sui and Aptos are also doing really well. They came close in terms of features and price. But it is no longer possible for Solana to make such a big difference from Ethereum.”
It was stated that during this period, Solana rose to $178 and gained 4% in value in the last 24 hours.
Solana’s competitive battle with Coinbase’s Base solution shows that blockchain networks are evolving rapidly and players must constantly innovate. Solana aims to increase its market share by maintaining its existing advantages and seizing new opportunities.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
