Recently, there has been an increase in liquidity in the market, positive investor expectations, and good growth dynamics of stablecoin quotes. Against the backdrop of these developments, Solana is making efforts to maximize the adoption of blockchain payments. Citing Bernstein data, The Block notes that Solana has “led” this battle.
While Ethereum led the previous race, Solana has now commanded a market share of 43% and is now the leader. Bernstein says that Solana owes its success to its design features. It has one level and provides easy access to cryptocurrency exchanges. Which is not the case with Ethereum, which is famous for its complex L2 networks.
The minimum transaction price and the significant bandwidth of Solana definitely appealed to users. Therefore, the number of transactions with stablecoins has increased significantly in the network.
However, it should be noted that Ethereum is still ahead of Solana in terms of the volume of native stablecoins issued. The latter loses in this figure with an amount of $2.2 billion against the $26.4 billion owned by Ethereum.
Bernstein analysts suggest that Solan should have ramped up its throughput, increasing it by at least 15, or better, 20 times. That is, instead of 700 transactions per second, more than 10 thousand transactions should be made. If the company manages to modernize the network so well, Solana will be able to make broader payments and get into the B2B sector.
