Multicoin co-founder Kyle Samani: SOL's market value will surpass ETH in the future

At the Token2049 conference held on September 19, Kyle Samani, co-founder of Multicoin Capital, gave a keynote speech titled "Why SOL Will Flip ETH", stating that the market value of SOL will surpass ETH in the future. The reasons he provided are:

1. Ethereum's Rollup-centric expansion route prevents ETH from capturing value. For example, nearly 80% of transactions have moved to L2 and L2 keeps issuing tokens without aligning with Ethereum's L1 mainnet.

2. Ethereum is facing an identity crisis and dilemma; while Solana's vision is to be a decentralized NASDAQ, it also has some structural advantages over Ethereum (such as token expansion, Firedancer client, hardware expansion). Solana has begun to compete with Ethereum on major chain indicators (DEX transaction volume, MEV, stable coins), and SOL/ETH has been rising.