SOL Is Up 3,800% YTD. Could It Eventually Displace Ethereum?

SOL Is Up 3,800% YTD. Could It Eventually Displace Ethereum?

SOL is up 75% over the past seven days, 205% in the past month, and 3,800% YTD. On Unchained, Multicoin Capital’s Kyle Samani discusses the DeFi projects fueling Solana’s growth, why he thinks Solana could make Ethereum obsolete, and the spectrum of decentralization. Show highlights:

  • what factors have contributed to SOL’s growth this year
  • what two milestones occurred last week that Kyle thinks supercharged SOL’s popularity
  • why Kyle thinks the issues with the Degen Ape Academy NFT drop were not actually a problem with the Solana blockchain
  • what projects will be possible on Solana that are impracticable on Ethereum
  • why Kyle thinks some combination of NFTs and social token apps will be the first breakout app on Solana
  • why Solana decreases the risk of massive liquidations — like the crypto industry saw on Black Thursday in March 2020
  • how Solana and Ethereum differ in regards to composability and fragmentation
  • what BitClout has to do with Kyle’s Solana investment thesis
  • why Solana could be the basis for the next crypto bull run
  • why Kyle thinks the Ethereum merge as it completes transition to Ethereum 2.0 will not really affect Solana
  • how the competition between Solana and Ethereum could play out in the next 12 months
  • why Kyle is not overly concerned about Solana being more centralized than Ethereum
  • what the Solana versus Ethereum competition will look like going forward, and why Solana may have the upper hand
  • what Kyle learned from his investment in EOS

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Episode links

Kyle Samani

  • Twitter: https://twitter.com/KyleSamani 
  • Multicoin Capital: https://multicoin.capital/ 

Previous Unchained appearances:

  • May 2021: https://unchainedpodcast.com/how-solana-and-binance-smart-chain-could-take-ethereums-lead/ 
  • April 2020: https://unchainedpodcast.com/the-most-forkable-defi-protocols-on-ethereum/
  • March 2020: https://unchainedpodcast.com/teetering-on-the-edge-how-black-thursday-exposed-the-flaws-in-the-crypto-markets/ 
  • January 2020: https://unchainedpodcast.com/kyle-samani-on-how-2020-will-be-the-year-of-small-success-stories/ 
  • March 2019: https://unchainedpodcast.com/how-binance-could-become-the-first-decentralized-autonomous-corporation/ 
  • June 2018: https://unchainedpodcast.com/multicoins-kyle-samani-on-why-he-believes-bitcoin-governance-doesnt-accommodate-the-real-world-ep-025/ 
  • May 2018: https://unchainedpodcast.com/multicoin-on-the-1-thing-crypto-teams-miss-in-their-quests-for-success/ 

Solana 

  • Twitter: https://twitter.com/solana 
  • Recent updates: https://solana.com/news/solana-ecosystem-news/ 
  • Website:  https://solana.com/ 

Recent SOL boom

  • https://twitter.com/JohnStCapital/status/1427088119870935047
  • https://www.ar.ca/blog/11-thoughts-during-a-digital-assets-bull-market
  • https://www.forbes.com/sites/ninabambysheva/2021/08/16/solana-hits-new-all-time-high-above-60/ 
  • https://twitter.com/KyleSamani/status/1425282669630328841 

Projects

  • Saber (AMM/DEX) growth

    • https://twitter.com/Saber_HQ/status/1428062812228759564 
  • Audius

    • https://www.coindesk.com/crypto-powered-audius-wins-tiktok-tie-up-for-streaming-music-direct-to-platform
  • Degenerate Ape Academy

    • https://www.theblockcrypto.com/post/114703/solana-hits-all-time-high-as-market-watchers-say-institutional-interest-is-growing
    • https://twitter.com/Pentosh1/status/1427034066784763904 
    • https://twitter.com/samecwilliams/status/1426828830552084482 
  • Mango Markets

    • https://www.coindesk.com/solanas-mango-markets-dex-raises-70m-in-mngo-token-sale
  • Wormhole

    • https://www.coindesk.com/solana-launches-cross-chain-wormhole-for-shuttling-assets-from-ethereum-bsc 

Multicoin’s Solana material

  • https://multicoin.capital/2021/05/04/announcing-venture-fund-ii/
  • https://multicoin.capital/2019/03/14/on-value-capture-at-layers-1-and-2/
  • https://multicoin.capital/2019/07/30/the-world-computer-should-be-logically-centralized/ 

Solana overview

  • https://thedefiant.io/solana-defi-ecosystem-overview/
  • https://research.thetie.io/solana-ecosystem/
  • https://research.binance.com/en/projects/solana
  • https://medium.com/coinmonks/solana-more-update-for-sol-becb65024877
  • https://genesisblockhk.com/what-is-solana/

Block explorers

  • https://explorer.solana.com/
  • https://solanabeach.io/
  • https://solanaproject.com/ 

Submitted questions from Unchained listeners

  • https://twitter.com/Unchained_pod/status/1428136429805264898 

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