Can Solana surpass Ethereum? Scaramucci's bold prediction sparks Layer-1 debate

At the Breakpoint conference, SkyBridge Capital founder Anthony Scaramucci once again endorsed Solana, claiming that this high-speed blockchain will eventually catch up with and surpass Ethereum in market capitalization. These remarks reignited the long-standing debate within the crypto community about the competition among Layer 1 blockchains.

Market Status: Diverging Performance of Two Paths

Current market data reflect two different trajectories. Ethereum is oscillating around $3,100, despite facing a single-day net outflow pressure of $116 million, the price remains above the key support level at the 20-day moving average of $3,121. If buying interest emerges, the next targets are $3,309, $3,382, and $3,453. Notably, Ethereum is forming a “step-by-step rising” bottom pattern, suggesting that selling pressure may be nearing its end.

In contrast, Solana’s situation is more severe. SOL is hovering around $138.52, nearly 50% below its September high, and close to the bottom of the chart. Technical signals show multiple warning signs: death cross signals and bearish flag patterns are both red, and further decline to $100 cannot be ignored. However, if SOL can recover above $147, this bearish setup will immediately become invalid.

Ecosystem and Fundamentals as Key Factors

Scaramucci’s optimism about Solana is not unfounded. In recent weeks, the Solana ecosystem has launched a series of noteworthy initiatives:

On the infrastructure level, Chainlink’s new bridging solution has connected Solana with the Base ecosystem. On the application level, Ondo Finance and State Street jointly launched SWEEP—a liquidity fund traded on-chain, marking the entry of traditional finance. Meanwhile, Animoca Brands’ tokenized assets are about to land on Solana, Bhutan has initiated its first national gold token project, and Coinbase has opened its full Solana token trading channel.

These actions represent a full-chain expansion—from DeFi infrastructure, on-chain traditional assets, to sovereign wealth participation. Solana spot ETFs alone absorbed over $22 million in inflows this week, with total inflows reaching $661 million, and total assets under management hitting $950 million—indicating that institutional investors are also voting with their support.

Diverging Views and Market Insights

Scaramucci skillfully defused the binary opposition of “Ethereum vs Solana,” emphasizing that he is “not only loyal to a single blockchain,” and also expressing strong affection for Ethereum and Avalanche. His logic is that: Solana, with its lightning-fast throughput, growing developer ecosystem, and strong presence at major conferences, has the potential to succeed in future competition.

The reality, however, is more complex. Rather than a single blockchain’s “ultimate victory or defeat,” it’s more about differentiated ecosystems competing for dominance in different tracks. Ethereum continues to strengthen its position as the hub for DeFi and NFTs, while Solana focuses on speed advantages in high-frequency trading, payments, and emerging applications. This discussion also reminds the market: even if prices face short-term pressure, ecosystem development and application deployment are the real factors that determine long-term success or failure.