Sygnum: Solana’s Revenue Model Limits Its Potential to Compete with Ethereum

Swiss crypto bank Sygnum has issued a critical analysis of Solana’s tokenomics, arguing that the platform’s current model doesn’t offer sustainable growth potential. The report highlights that most of Solana’s transaction fees are directed towards validators rather than contributing to SOL token value creation. Sygnum acknowledges Solana’s growing popularity in DeFi applications but suggests it could significantly boost its competitiveness with a shift toward stable revenue streams like tokenization and stablecoins.