These Two 'Ethereum Killers' Are Said To Be Bullish In 2022, Ready To Threaten ETH's Position

Solana and Near ready to threaten Ethereum (Bittoalt)

JAKARTA – Ethereum competitors, namely Solana (SOL) and Near are predicted to experience price increases in 2022. This was conveyed by one of the largest digital asset companies, namely Pantera Capital.

According to TheDailyHodl report, Pantera Capital partner Paul Veradittakit said that rival smart-contract platforms will eat away at Ethereum's market share, which now accounts for only 63 percent of total locked-in value (TVL) in decentralized finance (DeFi), down from 97 percent in early 2021. .

Moreover, Veradittakit also said that Solana (SOL), which aims to be a faster and cheaper alternative to Ethereum, is well poised to grow in 2022 driven by the increasing number of projects in the SOL ecosystem.

“Solana, which offers unrivaled transaction throughput, sees a remarkable 2021, hitting a peak TVL of $15 billion and a peak price of $260 in November versus $0.22 when it started trading in April 2020. Recent activity in the Solana community, including the launch of a large fund for decentralized social media and gaming, shows that the ecosystem will continue to grow rapidly in the coming year.”

Veradittakit said Near, which in April launched Rainbow Bridge that allows the transfer of crypto assets between blockchains, is also poised for explosive growth.

“Bridges (which enable interoperability between very disparate networks), such as Rainbow Bridge NEAR, will help accelerate the growth of non-Ethereum ecosystems by expanding access to liquidity and enabling easier composition of digital assets. Ethereum virtual machine (EVM) platforms, such as Aurora on NEAR, also make it easier for Ethereum-based DApps (decentralized applications) to launch on other chains, increasing cross-chain engagement in DeFi.”

At the time of writing, the price of Solana (SOL) is trading at the level of IDR 1,295,060. SOL has decreased 38.9 percent in the past week. While Near traded at Rp153,937. NEAR also fell 46.4 percent in the past week, according to data from Coingecko.