Kyle Samani Predicts Solana Flippening, Says ‘No One’ Uses Ethereum

Solana flippening — Multicoin Capital co-founder Kyle Samani has predicted Solana will surpass Ethereum in market capitalization this cycle, arguing that “no one” uses Ethereum’s ecosystem today.

Speaking on Cointelegraph’s Trade Secrets, Samani forecasted that crypto companies will default to building on Solana, citing its functionality and operational ease. He stated Ethereum remains a leading network primarily due to stablecoin activity, not organic usage, and called its value accrual “questionable.”

Solana’s market cap would need to increase roughly fivefold from its current $58 billion to overtake Ethereum’s $293 billion valuation. Despite this gap, data from DefiLlama shows Solana generated $23 million in fees over the past 30 days, ranking fourth and ahead of Ethereum’s $12.6 million in sixth place.

Samani, who stepped down as Multicoin’s managing partner earlier this year but recently joined Backpack’s US board, is a long-time Solana proponent. Multicoin Capital was an early investor in Solana and reported managing nearly $6 billion in assets last May.