Pantera Capital lauds Solana as a strong competitor to Ethereum
Pantera Capital, a leading crypto venture firm managing significant assets, is shifting its focus towards Solana, considering it a strong contender for the future of blockchain development compared to Ethereum.
In a recent newsletter dated June 18, the Menlo Park-based firm highlighted Solana’s rise, suggesting that Ethereum’s dominance is waning in favor of a more multi-polar model. Drawing comparisons to Apple’s innovative approach in the early days of personal computing, Pantera commended Solana’s integrated architecture, likening it to Apple’s vertically integrated strategy with macOS.
Pantera Capital emphasized Solana’s architectural advantages, pointing out its ability to support a wide range of use cases and user experiences, particularly those that may be more challenging to implement on modular blockchains like Ethereum and Cosmos. The firm praised Solana for its fast and low-cost transactions, making it an attractive option for developers and users alike.
Reports have surfaced indicating that Pantera Capital was actively involved in the auction of SOL tokens by FTX during its bankruptcy proceedings, acquiring a significant stake in the tokens. While the exact amount purchased remains undisclosed, estimates suggest that Pantera Capital may have invested up to $250 million in Solana tokens, further solidifying its confidence in the network’s potential.
In other news, Sonic, a gaming ecosystem built on Solana, recently raised $12 million, underscoring the growing interest and investment in the Solana network and its applications.
