SOL - Better Buy: Cardano or Ethereum?
2023-05-16 05:50:00 ET
Every year, it seems, there's a new blockchain rival that investors think might eventually take Ethereum 's (CRYPTO: ETH) place as the top Layer-1 blockchain. In years past, these blockchain rivals have included the likes of Solana (CRYPTO: SOL) and Avalanche (CRYPTO: AVAX). But, due to its strong track record of innovation, Ethereum has retained its market-leading position.
This year, the blockchain that everyone is talking about as a potential Ethereum rival is Cardano (CRYPTO: ADA). Year to date, Ethereum is up 53%, and Cardano is up 50%, so it's almost a dead heat. Let's take a closer look at how the two blockchains stack up to see which one is the better investment right now.
Ethereum has the first-mover advantage in just about every sector of the blockchain world. It literally invented the concept of smart contracts, so it's perhaps no surprise that it is still the clear leader in everything from non-fungible tokens (NFTs) to decentralized finance (DeFi). If you take a look at the top-selling NFT collections, for example, almost all of them are Ethereum-based, and it remains the top blockchain by overall NFT sales volume.
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Better Buy: Cardano or Ethereum?