Mert Mumtaz Declares SOL Is Dead: Does XRP Dominance Begin?
Mert Mumtaz, a former employee of Coinbase and the CEO of Helius, caused a stir today when he sent a tweet that nobody ever imagined he would. XRP has outperformed Solana, which he adores, he claimed.
He said in his tweet that it’s over for Solana and that it might never again be able to match XRP’s price. In his opinion, Solana lacks the technological capacity to compete with XRP.
Mumtaz did not elaborate on the background or rationale of his assertions. Furthermore, it might just be another ploy in his well-known troll repertoire.
XRP Beats the Odds: Outperforming Solana and the Entire Altcoin Market
This cycle, XRP has been a noteworthy altcoin and is currently the fourth-largest cryptocurrency by market. Along with Bitcoin and Tron, XRP is among the few coins that have seen a year-to-date price increase that defies the underwhelming performance of the overall market since the year began.
In December, XRP famously overtook Solana to take the fourth-largest cryptocurrency by market capitalization, a position it has held to this day. XRP’s price increased from $0.50 in November to $2.08 by the end of the year. The trend persisted this year, as XRP surged 45% to hit an annual peak of $3.40 before falling back to its current level.
XRP vs. Solana: How Two Blockchain Giants Serve Different Purposes?
The native token of the XRP Ledger, a network that Ripple contributes significantly to, is XRP. Additionally, Ripple’s fast-expanding cross-border payment solution relies heavily on XRP as its main asset.
Solana, meanwhile, is useful in a very different field than XRP. Building on Ethereum’s shortcomings, the Solana network is among the fastest in the cryptocurrency space and offers a more affordable and faster blockchain for institutional and retail transactional applications.
Amidst institutional traction through ETFs and corporate treasury inclusion, XRP has, in fact, been the center of attention this cycle. Similar patterns may be found with Solana, and its technology may be considered an addition to the ecosystem of XRP.
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