Odaily News Franklin Templeton pointed out in a report on Tuesday that the Solana DeFi ecosystem is growing much faster than Ethereum and has higher revenue, but its token valuation is still significantly low, and there is a phenomenon of "value asymmetry". The report compares the leading DeFi projects in the two ecosystems, Solana and Ethereum. Data shows that the average annual fee growth of the Solana project is 2,400%, and the valuation multiple is only 9x, while the fee growth of Ethereum's related projects is only 150%, but the valuation multiple is as high as 18x. The report further pointed out that DeFi may be entering a new era dominated by the Solana Virtual Machine (SVM), and the historical dominance of the Ethereum Virtual Machine (EVM) in the DeFi field is facing challenges. Despite this, Franklin Templeton remains optimistic about the long-term development of Ethereum, believing that its expansion strategy for Layer 2 solutions has made progress and promoted the scalability of the entire network. But in terms of market pricing, the value mismatch of Solana DeFi tokens may not last long. As the Solana ecosystem continues to demonstrate its resilience on the decentralized computing platform, the market may gradually adjust its valuation, bringing the price of Solana's leading DeFi project in line with Ethereum's blue-chip protocol.
