Sygnum, a cryptocurrency bank group, suggests that Solana currently lacks the convincing factors needed to dethrone Ethereum as the preferred blockchain for financial institutions. While Solana boasts high transaction volumes and fee generation dominance, its revenue stability is questioned due to its heavy concentration in memecoin projects. This makes it less attractive than Ethereum for institutional adoption, despite surpassing Ethereum’s layer 2 networks in transaction fees. The firm points out that even with Solana’s recent market share lead, the tokenomics of both blockchains remain a key factor, with Ethereum still significantly outperforming Solana in terms of overall revenue generation.