Kyle Samani predicts SOL flippening, claims ‘no one’ uses ETH

Multicoin Capital co-founder Kyle Samani has forecasted that Solana (SOL) will surpass Ethereum (ETH) in terms of market capitalization during the current market cycle. In an interview with Cointelegraph, Samani suggested that Ethereum's user base is minimal, and companies prefer to build on Solana due to its ease of use and superior functionality.

Samani's prediction would necessitate a five-fold increase in SOL's $58 billion market capitalization to surpass ETH's current market cap of $293 billion. While SOL and ETH have been moving closely in percentage terms during the recent market uptick, SOL has experienced a larger decline during the bear market, falling 59% over the past year, compared to ETH's 45% decline.

Samani has been a long-time advocate for Solana, having made early investments in the network shortly after founding Multicoin Capital in May 2017. He envisions more crypto companies shifting their default smart contract network choice to Solana, citing its functional advantages over Ethereum. Despite SOL accounting for less than one-fifth of ETH's market capitalization, it has already surpassed Ethereum in terms of both weekly and monthly fees, with Solana generating $23 million in fees over the past 30 days and ranking fourth in monthly fees, whereas Ethereum generated $12.6 million and ranked sixth.