According to research and brokerage firm Bernstein, looking back at recent stablecoin metrics, Solana is “dominating the battle” in the blockchain payments space amid growing market liquidity and improving investor sentiment.
“The big change this cycle is Solana’s dominant market share in stablecoin value transferred (up to 43%), while the market leader in the previous cycle was Ethereum,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.
They believe that Solana’s single-layer design guarantees higher throughput and lower transaction costs compared to the complexity of bridging to Ethereum L2, leading to an increase in stablecoin settlements on the network. (The Block)