A $1.7 Trillion Giant Company: These Altcoins on Solana Are Much Cheaper Than Ethereum! - Coin Bulletin

Franklin Templeton explained that Solana is rapidly growing and increasing its revenues, but DeFi tokens are priced at a lower valuation compared to similar projects on Ethereum.

Franklin Templeton, managing $1.7 trillion in assets, compared Ethereum DeFi projects LDO, AAVE, ENA, MKR, and UNI( with Solana DeFi projects.

According to the report, Solana DeFi projects provided an annual average 2,400% revenue increase and were priced at a 9x multiple. In contrast, Ethereum DeFi projects only showed 150% growth and were valued at an 18x multiple. Despite the high growth rates in Solana, investors still assigned higher value to Ethereum DeFi tokens.

The main Solana DeFi projects reviewed by Franklin Templeton:

• Jito )JTO(
• Jupiter )JUP(
• Kamino )KMNO(
• Marinade )MNDE(
• Raydium )RAY(

)# Can Solana DeFi reach the valuation it deserves?

The year 2024 was a significant growth period for Solana. In particular, the increase in meme coin trading boosted the transaction volumes of Solana-based decentralized exchanges ###DEX( to their peak. By January 2025, Solana's DEX transaction volume surpassed the entire Ethereum ecosystem. This development hinted at the possible end of Ethereum Virtual Machine )EVM( dominance in the DeFi sector.

However, Ethereum still maintains its strong position. Franklin Templeton noted that Ethereum's focus on layer-2 )layer-2( solutions demonstrates the success of the network's scaling strategy. Nevertheless, the increasing usage and robustness of Solana have strengthened the possibility that major DeFi projects in its ecosystem could eventually be priced at levels similar to competitors in Ethereum.