Solana's Market Cap Could Surpass Ethereum, Says SkyBridge CEO

Anthony Scaramucci, the CEO of SkyBridge Capital, has made a bold prediction that Solana could eventually surpass Ethereum in market capitalization. This prediction was made at the Digital Assets 2025 conference, where Scaramucci highlighted Solana's speed and cost efficiency as key factors contributing to its potential growth. He has previously expressed his preference for Solana over Ethereum, citing its transaction speed and lower fees in a February CNBC interview. Scaramucci also predicted that Solana could play a leading role in tokenization efforts and tweeted in May 2024 that a Solana ETF would emerge, which was followed by VanEck filing with the SEC to launch one the following month.

Despite a strong start in January, Solana has not maintained its momentum against Ethereum. The SOL/ETH pair surged early in the year but fell 25% in May and another 6% so far in June. Year on year, Solana has not fared well against Ethereum, although Solana is known to be a competitor too. The capitalization of Ethereum of $304 billion is currently a long way in advance of Solana’s $76.5 billion. Although Solana used to be a leader in terms of performance until very recently, Ethereum has finally taken its spot back thanks to a wide stance across the market and a rejuvenated investor interest.

Scaramucci is not the only investor who sees potential for Solana to challenge Ethereum. Qiao Wang of Alliance DAO has argued that Solana is becoming the top platform for new developers and startup activity. Santiago R. Santos of Inversion Capital has also questioned why Solana should not match Ethereum’s valuation. The development of Solana, with a large number of developers currently operating on its ecosystem, has made the platform an attraction due to its scalability of applications for venture firms and individual investors. Such a pace can affect the long-term network adoption, despite the underperformance of the token in the short term.

Although Ethereum is the largest smart contract protocol on the market, Solana still attracts close attention from investors due to the opportunities it has to remake the layer-one blockchain environment. With the development of blockchain systems, the debate about Solana and Ethereum still reflects general rivalry in the market of the smart contract platform. Scaramucci's prediction, while optimistic, is based on a careful analysis of the current market dynamics and the potential for Solana to capitalize on its strengths in speed and cost efficiency. The increasing adoption of stablecoins on the Solana network and the regulatory clarity provided by recent legislative actions are positive indicators for its future growth. If these trends continue, Solana could indeed surpass Ethereum in market capitalization, making it a formidable player in the cryptocurrency market.