Ethereum Rises as Solana Faces New Challenges

Banks are turning to Ethereum, citing its security and robust layer-2 (L2) infrastructure, as they move away from private blockchain networks like R3 and Corda. This shift is driven by a decline in Solana’s activity following a period of explosive growth fueled by memecoins. Arthur Hayes, prominent crypto analyst, explains that while Solana once thrived on its memecoin appeal, it now faces a demand slowdown, prompting the need for new catalysts to fuel further expansion.