The Tragedy of the Third Coin

Today, ADA, BNB and XRP sit behind tether (USDT) – a stablecoin with massive volume and not a third coin in my sense – waiting their turn for the number three spot. Behind them waits solana (SOL), a third-coin-in-waiting if ever there was one. It is an Ethereum-killer, mildly decentralized or mostly centralized depending on your view, has low fees, fast transactions and squarely targets the investor who just wants to buy non-fungible tokens (NFTs) without paying obscene gas to do so.

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