Solana has been the object of so much hype for the last two months, after its rally from $30, straight up to $100.
Because of this, it is safe to say that Solana is the hottest cryptocurrency of the year.
However, not everyone is impressed. A good example is Arthur Hayes, the co-founder and former CEO of BitMEX.
According to a recent tweet from Hayes, "the lord" asked him to sell all of his Solana holdings and switch to Ethereum.
Divine inspiration is a rare thing. However, the internet bore witness to one, in the form of a tweet from Arthur Hayes.
In this tweet, Hayes explained that he had decided to sell all of his SOL holdings and buy some Ethereum instead.
The former BitMex CEO stated that he did this after receiving a "message from the lord" while "meditating".
Moreso, Hayes also admitted in November, that Solana never caught his fancy, despite investing heavily over the years.
Hayes wrote:
"Fam I have something embarrassing I must admit. I just bot $SOL, I know it's a Sam-coin piece of dogshit […]. But it is going up, and I'm a degen."
Hayes is known for his outspoken and controversial views on the crypto industry. He has been a vocal critic of Bitcoin's scalability issues, Ethereum's high fees, and Solana's centralized design from the onset, and has even gotten in trouble with the US Securities and Exchange Commission for allegedly violating anti-money laundering and market manipulation laws in the US.
According to Hayes, Ethereum is a much better alternative to SOL, in terms of decentralization, security and innovation
Hayes argues that Ethereum has the largest community of developers and users, which makes it unlikely for Solana to beat it soon.
The same can be seen in the TVL distribution for Deficapable chains from DefiLlama.
According to the chart above, Ethereum controls more than half of the entire market's Defi TVL, at around $28 billion.
Comparatively, SOL, despite its bullishness over the last two months, only controls about 2.5%, at about $1.3 billion.
This means that Solana would have to multiply its own TVL by more than 25 times to compete or beat Ethereum.
Moreso, Hayes has also criticized SOL in the past, based on its decentralization issues. The former BitMex CEO argues that Solana's scalability comes at the cost of centralization and security.
Overall, Hayes concluded his tweet by stating that Ethereum is headed for the $5,000 mark very soon.
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