A veteran altcoin analyst compares Ethereum rivals Solana (SOL) and Near Protocol (NEAR) amid growing uncertainty in the market.
Coin Bureau analyst closely follows these 2 altcoin projects
Analyst known as Guy says in a new video that SOL prefers tokenomics over NEAR:
Tokenomics is where Solana shines. I don’t know what they did behind the scenes. However, early investors managed to find a way to both eat their cake and eat their cake. What I mean by that is that they sell all their SOL some. They did this without lowering the price of SOL. Comparing
SOL and NEAR, the analyst points out the difference in token economics between the two cryptos:
How new is the Near Protocol’s transaction fee mechanism. Solana, on the other hand, understands things better like wage burns, inflation, and staking rewards. Also, there is nothing stopping Solana from implementing the same transaction fee mechanism.
As for the prospects for the rest of the year, Guy thinks Solana will do better in this regard:
why Solana also won on the price side; arguably sound tokenomics. Even with its massive market cap, SOL is likely to see more gains as a percentage than NEAR when the next bull market comes. Because it somehow broke the tokenomic code of the cryptocurrency.
But Solana is facing some hurdles
NEAR is trading at $3.38 at the time of writing. According to the analyst, the altcoin project is ready for new investors for a quick recovery. The analyst says:
The wildcard in this estimate is the NEAR circulating supply. This means that once won, there will be virtually no selling pressure from Near Protocol’s early investors. It could give NEAR the conditions it needs to truly recover when that speculative demand comes back.
However, the analyst says Solana faced more technical hurdles than Close. He says how the two platforms handle their respective challenges will determine which one wins over investors:
If you ask me, the challenges facing both of these crypto projects are the deal breaker truth and which one comes out on top ultimately depends on how easy it is to resolve those challenges. . I have to admit, Solana faces much bigger hurdles than Near. The fact that Solana continues to drop even after its developers have promised different fixes suggests that the problems are bigger than they admit or even know.
Near has some advantages in the leading altcoin position
Guy also said that he sees NEAR more advantageous than SOL at the moment. He added, however, that this could change depending on potential future issues:
To be fair, Near Protocol is still in the process of rolling out its new sharding mechanism, which is causing a lot of trouble. Case in point: Near Protocol has already discovered a few of these issues after releasing its first four tracks last fall. The thing is, NEAR really solved the problems. So at this point in time I think Near Protocol has come to a head.
