Altcoins
EOS vs TRON vs Ethereum: Which is the Best One?
In the world of cryptocurrencies, there are hundreds and even thousands of active coins. With so many of them, deciding which one to invest in can be a nightmare, especially for the new investors. Making such a choice requires a lot of research and fact-checking, since making a wrong choice will mean losing all of the money you invested.
Because of that, a lot of investors choose to only concentrate on top coins, which is a good strategy. Leave the smaller altcoins to more experienced people, who are a bit more attuned to the going-on’s in the crypto world. However, even if you only choose to concentrate on the top coins, you might still have a hard time finding the right one. This is why we have decided to compare some of the most popular cryptos, and today, we will be looking at an EOS vs TRON vs Ethereum comparison.
EOS vs TRON vs Ethereum
Making a choice, even when it comes to only these three projects, can still be a hard thing to do. All three of them have their own pros and cons. Ethereum, for example, has been holding the position of the second largest coin for years now. This would not happen if it were not a decent investment.
Then, there is EOS, a coin that aims to provide better technology and service in the pretty much the same field that Ethereum has been dominating for a long time. And finally, there is TRON, which is in a league of its own. Unlike EOS, TRON doesn’t want to kill of ETH and take its place. Instead, it has its own set of goals, all of which are extremely ambitious. Even so, TRON has been slowly fulfilling them, and it constantly draws closer and closer to its ultimate goal, which is the decentralized web.
EOS vs ETH
Ethereum is the second largest coin by market cap, bettered only by Bitcoin itself. It’s interesting to note that both, EOS and TRON, started off as Ethereum’s ERC-20 tokens. Still, neither of them was satisfied with remaining on ETH’s network, and so they became their own blockchains. They both launched their MainNets only a few months ago, but EOS has had a bit of trouble with its own project, at least at first.
EOS is relatively similar to Ethereum, which is why it feels confident when it comes to its chance of taking ETH’s place. There’s an argument to be made that EOS does everything that Ethereum does, only better. It is faster and cheaper, and its technology continues to improve. On the other hand, ETH’s technological development seems to be in a dead end, but the coin still remains firmly in its place as the second largest crypto.
How does TRON fit in?
We already mentioned that TRON was an ERC-20 token as well, and it also recently launched its MainNet. What makes it different from EOS is that everything it does seems to be very successful. It launched numerous successful projects, the good news is piling up constantly, and it entered more partnerships than we can count.
Its aim is to revolutionize the entertainment industry, and eventually lead us to a completely decentralized web. This might seem impossible, but all that TRON really needs is time to lead us to this. This is why TRON is among the most popular and best coins today.
EOS and ETH are not bad either, and EOS might even pull off the ETH replacement. However, that is still in the future, and for now, they all struggle with a constantly bearish market.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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