Solana’s decentralized finance (DeFi) ecosystem has surged ahead, expanding more rapidly than Ethereum’s and pulling in huge revenues. Still, despite this swift climb, a new report from Franklin Templeton, a global asset manager, points out a glaring gap: Solana’s DeFi tokens are priced far below Ethereum’s, even with all this growth.

The study digs into five top DeFi projects from both Ethereum and Solana, checking how they’ve performed. For Ethereum, it lists Lido, Aave, Ethena, Maker, and Uniswap. Over on Solana, it spotlights Jito, Jupiter, Kamino, Marinade, and Raydium.

The numbers grab attention—over the last year, fees for Solana’s DeFi platforms have shot up by 2,400%, while Ethereum’s projects have only ticked up by 150%.

Still, Solana projects are valued at a median multiple of 9x, while Ethereum’s hit a stronger 18x. The key takeaway? Solana’s DeFi world is doing great, but its tokens are still a lot cheaper than Ethereum’s.

More people are turning to Layer-2 networks like Arbitrum, Optimism, and Base, which shows Ethereum is keeping up with change. These tools reduce network clogging and cut transaction fees, proving Ethereum’s scaling plan is solid. Franklin Templeton says leaning on L2s is a major step in Ethereum’s effort to stay in the lead.

Even with its standout growth, Solana’s DeFi tokens are still priced low compared to Ethereum’s. But if this trend rolls on, that could change soon. As Solana keeps proving it’s a high-performance blockchain, the market might adjust. Major Solana DeFi players like Jito, Raydium, Jupiter, Orca, and Kamino could see their values climb to rival Ethereum’s big names.

DeFi is shifting quickly. Solana’s gaining ground, while Ethereum works out new ways to hold its advantage. One thing’s for sure—this isn’t a passing moment. Whether Solana catches up remains unclear, but its steady rise is hard to miss.

Also Read: Hamster Network Hits 34,028 TPS, Beating Solana and Aptos

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