You are here: Home/ News/ Optimism Overtakes Solana In the Crypto Market: The Battle for Supremacy
Evan van Ness, a seasoned ConsenSys veteran and the author of the popular “Week in Ethereum” newsletter, has raised the alarm over the recent performance of Solana (SOL). According to van Ness, the current bullish rally in the cryptocurrency market might have been the last one for Solana.
In a recent tweet, van Ness highlighted an interesting “flippening” between Solana and Optimism (OP), which he called a leading execution environment for the world’s settlement layer.
$OP just flipped $SOL
One is a leading execution environment for the world’s settlement layer.
The other is a ill-performant web2 database. https://t.co/WSdkXxXZJG
He further stated that Solana is an ill-performing web2 database and is now lagging behind AVAX, which is a geth fork that tries to hide its scalability problems with big blocks and sidechains.
Flippening Between Solana & Optimism
As explained by van Ness, the flippening between Solana and Optimism refers to the recent shift in the market performance of both cryptocurrencies. He noted that Optimism has now taken the lead over Solana, which is a worrying sign for those invested in the latter.
Van Ness also mentioned that the circulating supply of Optimism is only 5% of its total supply, which was news to him when he initially tweeted about the flippening. He clarified that he has no investment opinion on either of the cryptocurrencies and that this is not financial advice.
However, he did express that he believes Optimism will likely be around for the long term and could potentially be a profitable business with its optirolls. On the other hand, he doubted that SOL would last more than a cycle.
A community member commented on van Ness’s tweet, stating that Optimism is even worse than Solana right now and that he should know better than to promote a low circulating supply of trash.
Van Ness responded by arguing that he was not shilling either of the cryptocurrencies and that he just found the flippening interesting and thought to tweet about it.
Another individual commented on van Ness’s tweet, accused him of promoting a liquidity pump, and criticized his use of “X has surpassed Y due to fundamentals.” The commenter went on to question the validity of van Ness’s analysis, suggesting that if Luna Classic was up, it must also be due to fundamentals.
In response to the individual’s comment, van Ness stated that they were projecting and that he did not have any significant holdings in either Optimism (OP) or Solana.
@0x_Kun You’re projecting.
I don’t own any meaningful $OP or $SOL
My only real position is that Sqlana is ? and will be worth much less than $OP in the long-term
Bc rollups have good biz models
https://t.co/Neb4z5EsIM
He further stated that his only real position was that Solana would be and was worth much less than Optimism in the long term because rollups have good business models.
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Recent developments within the crypto-space indicate that optimists may soon overtake Solana in the crypto market as the two vie for supremacy.
The rise of Solana has certainly been impressive, with the blockchain quickly establishing itself as a top platform for decentralized applications within the space. On the other hand, a wave of optimism and bullish sentiment has been building among crypto investors, with the prices of Bitcoin, Ethereum and a number of altcoins rising steadily over the past few months.
As a result, the competition between Solana and optimistic investors has become more intense. On the one hand, Solana’s technology and platform capabilities offer great potential for creating decentralized applications. On the other hand, the growing confidence in the market, bolstered by strong institutional interest from companies like PayPal, has lent a great deal of support to bullish sentiment.
The competition for supremacy is difficult to predict as the future of the crypto market remains uncertain. Nevertheless, it is clear that investors are starting to have more faith in their outlook on the market, and their bullish outlook is beginning to outpace that of Solana. Thus, it is likely that optimism will eventually overtake Solana in the crypto market, effectively winning the battle for supremacy.
Regardless of who wins, it is evident that the crypto market is booming and offering a wealth of opportunities. With the right mix of enthusiasm and innovation, it is clear that the crypto market will remain vibrant and could even become a major player in world financial markets.
