Solana DeFi Tokens Undervalued Compared to Ethereum's, Says Franklin Templeton

Solana's bustling decentralized concern (DeFi) country is increasing faster than Ethereum's, and making much wealth too. And yet, Franklin Templeton pointed retired successful a Tuesday report, its tokens are worthy less. "Solana DeFi valuation multiples commercialized connected mean little than their Ethereum counterparts contempt importantly higher maturation profiles, highlighting an evident valuation asymmetry," the study said. Franklin Templeton compared tokens of 5 starring ETH projects (LDO, AAVE, ENA, MKR and UNI) to those of 5 of Solana's strongest protocols (JTO, JUP, KMNO, MNDE and RAY). The Solana projects saw 2,400% median maturation successful fees twelvemonth implicit year, and a median aggregate of 9x, whereas the Ethereum projects were up lone 150%, and a aggregate of 18x. The trends travel aft a twelvemonth of torrid maturation for Solana. Memecoin traders successful peculiar powered the network's decentralized exchanges to caller heights successful 2024. In January 2025 Solana's DEXes had much measurement than those of the full Ethereum ecosystem, combined. "DeFi whitethorn beryllium entering an epoch of Solana Virtual Machine Dominance, shifting distant from the humanities reign of EVM based DeFi," the study said. That's not to accidental the Ethereum mainnet is finished. To the contrary, Franklin Templeton said the displacement successful enactment to furniture 2 blockchains "is impervious that the Ethereum scaling attack is hitting its stride." But the asymmetry betwixt Ethereum's highly valued assets and Solana's comparatively undervalued tokens whitethorn not last. "As Solana continues to show its resilience arsenic a decentralized computing platform, the marketplace whitethorn soon terms blue-chip, cornerstone Solana DeFi protocols successful enactment with comparable Ethereum protocols.