Crypto venture capital firm Pantera Capital has tipped Solana to take advantage of Ethereum’s dominance shifts in the crypto market.
In its latest newsletter to investors, the Menlo Park-based firm noted that Ethereum’s dominance “appears to be yielding to the multi-polar model.” Pantera highlighted Solana as a key player that has gained “significant share over the past year.”
“The shift is reminiscent of Microsoft’s dominance of the early desktop computer market, until Apple broke through with its vertically integrated approach. Solana is now a major contender for the future of blockchain development,”
Drawing an analogy to Apple’s early success in personal computing, Pantera compared Solana’s integrated approach to Apple’s vertically integrated strategy with macOS. The firm praised Solana’s monolithic architecture and product roadmap, which focuses on optimizing every component of its own blockchain.
Pantera emphasized Solana’s “architectural advantages,” which enable a variety of use cases and user experiences that “may be more challenging to implement on modular blockchains like Ethereum and Cosmos.” The firm also cited Solana’s “fast, low-cost transactions” as a key benefit.
“Solana’s architectural advantages are enabling it to capture an outsized share of the new demand coming into the blockchain space, accelerating its ascent as a rival to Ethereum.“
This glowing praise further underscores Pantera’s growing emphasis on Solana’s potential over Ethereum. Reports indicate the firm participated in the bidding process for SOL tokens auctioned by FTX during its earlier bankruptcy proceedings this year, acquiring a substantial stake in the tokens.
The firm secured these tokens at a rate of US$59.95 each, a 39% discount compared to Solana’s 30-day average price, capitalizing on a strategic opportunity.
This purchase was facilitated through the Pantera Solana Fund, targeting major investors with a minimum investment requirement of US$25 million.
According to the report, investors participating in this acquisition are expected to commit to a vesting period of up to four years, indicating Pantera’s long-term confidence in Solana’s potential.
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