Sygnum Bank reveals a new “serious challenge”

Sygnum Bank has revealed that there could be a new “serious challenge” between Solana and Ethereum. In fact, it seems that financial institutions might prefer the SOL blockchain to build their platforms, but ETH remains much further ahead. 

Solana vs. Ethereum and the “serious challenge” between the two blockchains

Sygnum Bank, the Swiss crypto bank, has revealed that between the Solana and Ethereum blockchains a new “serious challenge” could arise. 

“The digital nugget of Sygnum Bank: Is Solana on the right track to overturn Ethereum? To learn more, read our article”

In practice, Sygnum Bank highlighted how Solana could be the blockchain preferred by financial institutions that want to launch platforms for the tokenization of real assets.

Specifically, it seems that some recent indications express a tendency of institutions to prefer the scalability of Solana to the advantages of stability and security of Ethereum. 

If that were the case, in the long term Solana could be a serious rival to Ethereum, who knows, maybe even surpassing it. 

Solana vs. Ethereum: even ChatGPT’s AI highlights scalability 

Beyond Sygnum Bank, the Artificial Intelligence (AI) of ChatGPT highlighted scalability as a promising feature for Solana.

Here, the bot’s response comes from assembling information found online, specifically regarding the question posed to it. And so, for the AI, Solana could have the potential to become an interesting investment. 

In fact, the AI highlighted that the network is designed to handle thousands of transactions per second, which is more than many other competing blockchains, such as Ethereum itself. 

In any case, the report by Sygnum Bank also highlighted that Ethereum is much further ahead of Solana, especially in terms of adoption and market cap. 

In fact, at the time of writing, the market cap of ETH is over 286 billion dollars, compared to 65.5 of SOL. 

Yet, speaking precisely of market cap, a recent report by VanEck highlighted how SOL could soon reach 50% of ETH’s market cap. Not only that, the forecast also mentions the price of SOL potentially exceeding $300.

Switzerland: a third of the population can access crypto services

The considerations of Sygnum Bank on Solana vs. Ethereum and the “serious challenge” in the long term are based on its involvement in the crypto world. 

In fact, Sygnum is a true candidate in promoting the mass adoption of cryptocurrencies. 

Just last June 2024, Sygnum formed a partnership with over 20 banks, offering its crypto services to a third of the Swiss population. 

Among the 20 B2B partners are PostFinance, ZugerKB, LuzernerKB, VZ Depotbank, PKB, SocGen Forge, Bordier, and Bison Digital Assets.