This site (120btC.coM): Andrew Kang, co-founder of Mechanism, wrote that SOLBTC (or SOLETH) has become a better choice than long ETHBTC.
Following in the footsteps of BTC, is ETH too "stable"?
Andrew Kang first mentioned that in the past 6 or 7 years, ETH has replaced BTC. More investors and fund institutions regard ETH as the first choice for currency standards. However, as time goes by, ETH has gradually become A safe, low-volatility risk asset, the number of people switching to ETH is gradually decreasing.
L2, re-staking, and modularization, aren’t these bullish for ETH?
Andrew Kang believes that L2, re-staking, modularization and other narratives seem to be good for ETH, but the characteristics and innovation of these projects have also put heavy pressure on Ethereum. Ethereum is facing investors who are constantly converting ETH into the above-mentioned new projects.
SOL does not have these problems and has survived multiple tests to become an L1 blue-chip public chain.
The third giant after ETH and BTC: SOL
He pointed out that conservative investors who used to hold a large number of BTC and ETH now regard SOL as a stable and safe asset. , he feels that this is the transition stage for SOL to become a mainstream asset.
Andrew Kang said: The definition of crazy is that you keep trying to go long ETHBTC when SOLBTC (or SOLETH) is clearly a better trade in the bull market.
However, some communities retorted that when DeFi rose in 2020, Bitcoin rebounded and ETH performed poorly, everyone also began to question that the DeFi protocol was taking away the value of Ethereum.
But the fact is that at that time, the exchange's ETH stock was at a low point, 25% of ETH was pledged, ETH continued to be issued at a negative rate, and the ecosystem was several years ahead of its opponents. Moreover, considering the imminent arrival of Ethereum spot ETH, this person Community members believe that when everyone is bullish, it is the best time to buy ETH.
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