Digital asset investment giant Pantera Capital is offering a bullish outlook for Ethereum (ETH) rivals Solana (SOL) and Near in 2022.
In the latest letter to investors, Pantera partner Paul Veradittakit speak that rival smart contract platforms are eating away at Ethereum’s market share, which currently accounts for only 63% of total value locked (TVL) in decentralized finance (DeFi), down from 97% at the start of 2021.
Veradittakit said that Solana (SOL)which aims to be a faster and cheaper alternative to Ethereum, is especially expected to grow in 2022 driven by the growing number of projects in its ecosystem.
“Solana, which offers unparalleled transaction throughput, has seen an incredible 2021, reaching a peak TVL of $15 billion and a peak price of $260 in November versus 0.22 dollars when it starts trading in April 2020. Recent activity in the Solana community, including the launch of massive funds for social media and decentralized gaming, shows that the system ecology will continue to grow strongly in the coming year. “
Veradittakit said that Near thewhich in April launched “Rainbow” which enables the transfer of crypto assets between blockchains, is also set for explosive growth.
“Bridges (which allow interoperability between very disparate networks), such as NEAR’s Rainbow Bridge, will help accelerate the growth of non-Ethereum ecosystems by expanding access to liquidity. accounts and allows for easier composability of digital assets. Ethereum Virtual Machine (EVM) platforms, like Aurora on NEAR, are also making it easier than ever to launch Ethereum-based DApps (decentralized applications) on other chains, enhancing cross-chain interactions in DeFi. ”
At the time of writing, Solana is worth $94.85, while Near is worth $11.35. Ethereum is trading at $2,388.35.
Sergey Nivens / WhiteBarbie