Solana Faces Competition From Sui, Ton, Base Blockchains: Report

  • Solana's (CRYPTO: SOL) rapid rise as a high-performance blockchain is tempered by growing competition and network vulnerabilities, according to a new 21Shares report. What Happened: The analysis highlights challenges like rival Layer 1 and Layer 2 networks, limited decentralization and reliance on speculative trading as key risks to Solana's dominance.