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The crypto venture firm Pantera Capital says Ethereum’s losing steam as Solana has become a “major contender for the future of blockchain development.” 
<a href="https://crypto.news/tag/pantera-capital/" target="_blank" rel="">Pantera Capital</a>, a crypto venture capital firm managing billions in assets, reportedly eyeing a purchase of millions worth of SOL from the bankrupt <a href="https://crypto.news/tag/ftx/" target="_blank" rel="">FTX</a> exchange, appears to be increasingly highlighting Solana’s potential over <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="">Ethereum</a> to investors. 
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 <img loading="lazy" decoding="async" width="1000" height="558" src="https://crypto.news/app/uploads/2024/06/jdispofjds.png" alt="Pantera Capital praises Solana as Ethereum's dominance shifts to 'multi-polar model' - 15" class="wp-image-14280156">
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 Tokens rolled out on decentralized exchanges by chain | Source: Pantera Capital
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In a Jun. 18 newsletter, the Menlo Park-headquartered venture capital firm said Ethereum’s dominance “appears to be yielding to the multi-polar model,” pointing to Solana as a new prominent product that gained “significant share over the past year.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The shift is reminiscent of Microsoft’s dominance of the early desktop computer market, until Apple broke through with its vertically integrated approach. Solana is now a major contender for the future of blockchain development.” 
 Pantera Capital 
</blockquote> 
 You might also like: <a href="https://crypto.news/solana-network-resumes-operations-following-extended-outage/" rel=""> Solana network resumes operations following extended outage </a> 
Drawing parallels to <a href="https://crypto.news/tag/apple/" target="_blank" rel="">Apple</a>‘s breakthrough in the early days of personal computing, Pantera likened Solana’s integrated approach to Apple’s vertically integrated strategy with macOS, saying the network’s monolithic architecture has a product roadmap “focused on optimizing every component of its own blockchain.” 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="990" height="586" src="https://crypto.news/app/uploads/2024/06/hoshnfsdf.png" alt="Pantera Capital praises Solana as Ethereum's dominance shifts to 'multi-polar model' - 16" class="wp-image-14280157">
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 Trading volumes compared between Ethereum and Solana | Source: Pantera Capital
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The venture capital firm says Solana’s “architectural advantages” enable a range of use cases and user experiences that “may be more challenging to implement on modular blockchains like Ethereum and Cosmos,” citing Solana’s “fast, low-cost transactions.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Solana’s architectural advantages are enabling it to capture an outsized share of the new demand coming into the blockchain space, accelerating its ascent as a rival to Ethereum.” 
 Pantera Capital 
</blockquote> 
The firm’s endorsement of Solana follows reports saying that Pantera Capital was among the bidders for SOL tokens auctioned by FTX during its bankruptcy proceedings earlier this year, <a href="https://crypto.news/pantera-capital-wins-another-bid-for-discounted-solana-tokens-in-ftx-bankruptcy-auction/" target="_blank" rel="">buying a significant stake</a> in the tokens. Reports <a href="https://finance.yahoo.com/news/pantera-capital-targets-us-250-171640257.html" target="_blank" rel="">indicate</a> that Pantera Capital was interested in buying auctioned SOL tokens amounting to as much as $250 million, although the precise amount acquired hasn’t been disclosed. 
 Read more: <a href="https://crypto.news/sonic-fundraiser-solana-gaming/" rel=""> Sonic raises $12m to drive Solana gaming ecosystem </a>

Pantera Capital praises Solana as Ethereum’s dominance shifts to ‘multi-polar model’

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