Pantera: The narratives of Bitcoin and Ethereum have solidified, while Solana has greater upside potential

ChainCatcher news, Pantera Capital officially stated on X that Solana is reaching an important inflection point for consumer, fintech company, and institutional adoption. Blue-chip companies like Stripe and PayPal have begun building applications on it.

The narratives for Bitcoin and Ethereum have largely been established, while Solana's narrative is just beginning to unfold. Solana is still in its early stages, with no SOL ETF currently available, and only 5 publicly listed companies holding SOL. The allocation of institutions to SOL is significantly lower compared to BTC and ETH, holding less than 1% of the total supply (BTC is 16%, ETH is 7%). In terms of market capitalization, Solana is still only 1/20th of Bitcoin and 1/4th of Ethereum ------ but it has already outperformed both in key usage metrics. The adoption narrative for Solana is just starting, with greater asymmetric upside potential.