Fidelity Digital Assets Releases Report on Solana and Ethereum for 2025

Fidelity Digital Assets has published a report titled “2025 Look Ahead: Is it ‘too late’ to enter digital assets?” focusing on the competition between Ethereum and Solana. Key points include:

Ethereum shows strong developer activity, total value locked (TVL), and stablecoin supply.
Solana's revenue and TVL are improving rapidly, driven by community interest but heavily reliant on memecoin trading.
Ethereum's fundamentals may provide more resilience against market volatility.
Solana’s upcoming Firedancer upgrade could significantly enhance its transaction capacity.
Ethereum's Prague/Electra upgrade is expected to generate less community excitement.
Access to US-based spot ETFs gives Ethereum an advantage, though regulatory changes could impact this.
Market dynamics may shift focus back to Ethereum's fundamentals, despite Solana's short-term momentum.

The report also discusses Ethereum's rollup-centric roadmap, noting potential revenue impacts from decreased Layer 1 fees post-upgrade. Fidelity believes long-term benefits will outweigh short-term losses as more specialized Layer 2 projects emerge within the Ethereum ecosystem.

At press time, Solana traded at $197.

Solana price