SOL vs ETH: How Undervalued is SOL Really?

SOL is currently trading at an 83% discount to ETH - should it be?

Michael Nadeau is a crypto analyst who can help us answer this question. His approach isn’t technical, he isn’t a decentralization-maximalist, and he doesn’t represent any specific tribe. Instead, he focuses on current on-chain fundamentals like daily active users, fee revenue, and Total Value Locked to provide insights.

In our discussion, we explore why fundamentals matter when analyzing crypto assets like ETH and SOL. We review the data for 2024 to see who’s winning and examine the catalysts for both ETH and SOL. Additionally, Michael shares his price predictions for ETH and SOL this cycle and offers insights on which asset will outperform the other in the second half of the bear market.

TIMESTAMPS
00:00 Start
02:59 Are Fundamentals Having a Moment?
08:59 Solana's 83% Discount
12:11 Fundamentals Data
17:09 Fees, SOL vs ETH
9:52 Fee Generation & MEV
22:36 DEX Volume
25:31 Stablecoin Volume
28:08 Total Value Locked
31:49 Core Devs
34:50 Value Accrual
41:45 The Bull Case For Ether
49:22 Upcoming Catalysts
57:09 Qualitative Differences
59:40 Price: SOL vs ETH
01:04:10 Price Targets

RESOURCES

Michael's Report: https://thedefireport.io/research/sol-discount-eth

Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠