Has the era of ETH and BTC passed, with Solana SOL becoming the preferred choice for the coin standard?

Mechanism co-founder Andrew Kang wrote that it is now a better choice to trade SOLBTC or SOLETH rather than going long on ETHBTC.

L2, Re-collateralization, Modularization – Aren't These Bullish for ETH?

Andrew Kang believes that narratives like L2, re-collateralization, and modularization may seem bullish for ETH, but these characteristics and innovations of the projects also put significant pressure on Ethereum, as investors continuously convert ETH into these new innovative projects.

Meanwhile, SOL does not face these issues and has weathered multiple tests to become a blue-chip L1 public chain.

The Third Giant Beyond ETH and BTC: SOL

He points out that conservative investors who previously held large amounts of BTC and ETH now see SOL as a stable and secure asset, viewing it as a transitional phase for SOL to become a mainstream asset.

Andrew Kang stated:

The definition of madness is when SOLBTC or SOLETH is clearly a better trade during a bull market, but you keep trying to long ETHBTC.

However, some in the community argue that when DeFi surged in 2020, Bitcoin rebounded, and ETH underperformed, people began to question whether DeFi protocols were capturing the value of Ethereum.

However, the reality was that at that time, exchange ETH reserves were at a low point, 25% of ETH was staked, ETH continued with negative issuance, the ecosystem was years ahead of its competitors, and considering the upcoming Ethereum spot ETH, this community member believed that when everyone was bearish, it was actually the best time to buy ETH.