Part 11/16:
Solana’s Rise and Competitive Dynamics
Solana has notably outperformed other Layer 1 tokens, gaining over 860% in 2023, and has been consolidating at elevated levels. The Solana-to-Bitcoin ratio has increased substantially, making Solana a serious contender against Ethereum and even Bitcoin for market share. Additionally, fund flows indicate that investors are shifting capital into Solana, driven by its strong ecosystem growth, particularly in staking and gaming tokens, which have outperformed Bitcoin since late 2022.