Ethereum vs. Solana (we found something…weird)
So, we've been doing a deep dive on Ethereum, for the paid bi-weekly newsletter that we announced the other day.
...and we found something weird.
With every metric we looked at, ETH just seemed to appear more and more untouchable, when compared with competing smart contract platforms.
Until we looked at the 'Daily Active Users' (DAUs) of Ethereum and Solana.
Which is an important metric:
The more people that use a network every day → the more developers it attracts → the more new users it brings in → the more valuable it becomes overall...
Right, so get this...
Ethereum's total market value is currently 14.5x higher than Solana's.
But Solana has more daily active users than Ethereum, by a solid margin (755k vs. 517k).
...that's like Bing all of a sudden outpacing Google Search in daily active users, and not seeing its value increase!
So how can Ethereum be losing to Solana in DAUs and still be 14.5x more valuable?
...wait for it...
We're not tellin'.
We need to keep some mystery for our Over The Shoulder subscribers.
BUT! (Here it comes...) if you're keen to learn more about what makes particular cryptocurrencies valuable, and others not so valuable:
You can sign up for $95 between now and Oct. 2nd (then it goes up to $120).