Anatoly Yakovenko Says Coinbase-Backed Layer-2 Base Is Solana’s Biggest Competitor – Here’s Why

Anatoly Yakovenko, co-founder of Solana (SOL), says the undertaking’s greatest competitor is now Coinbase’s Ethereum (ETH) scaling resolution.

In a brand new interview on the Unchained Crypto YouTube channel, Yakovenko say Coinbase’s Base has turn out to be Solana’s greatest rival as a result of quantity of community exercise.

“Base might be the most important competitor now, I’d say trying on the exercise. How I clear up this downside is… your key elements of PMF (product-market match) are value, options, or content material. Ethereum’s weak point was its value, and Solana had a fantastic value that Ethereum alone might by no means obtain, simply charges for customers…

What is exclusive about Ethereum is the belongings issued there. And I feel that is now considerably shifting to Solana. To start with, memecoins are new content material created every single day… Base is the most important competitor to the Solana ecosystem for my part.”

He additionally says that tier-1s Sui (SUI) and Aptos (APT) have gained floor.

“Sui and Aptos are additionally doing very effectively. They’ve caught up in options and value. The issue they’ve is that Solana had such a giant distinction in comparison with Ethereum. There was an enchancment of ten orders of magnitude. Now the enhancements are marginal and never sufficient to be the killer half. In case you enhance Solana’s charges by 100x, you may get some bizarre use instances working there, however they don’t seem to be the core use instances that folks care about, after which it isn’t sufficient to distinguish themselves.”

Solana is buying and selling at $178 on the time of writing, up 4% within the final 24 hours.

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