Solana on Par with Ethereum in On-Chain Transactions, Multicoin Capital’s Kyle Samani Discusses

On September 19, during the TOKEN2049 conference, COINOTAG reported that Kyle Samani, co-founder and managing partner of Multicoin Capital, engaged in a roundtable titled “Why SOL Will Flip ETH” (Why Solana Will Surpass Ethereum). Samani emphasized that blockchain’s essence as a financial system makes on-chain transactions a critical metric. Over the past year, Solana’s transaction volume has sometimes surpassed that of Ethereum. Currently, Solana and Ethereum show nearly equal on-chain transaction volumes.

Furthermore, Samani compared the total validator fees paid to both Ethereum and Solana holders. While Ethereum occasionally leads in earnings, there are periods when Solana generates higher validator fees. These financial metrics now reveal a close competition between the two ecosystems.