U.S. entrepreneur and investor Anthony Pompliano says he shifted his crypto portfolio, selling his Ethereum holdings to invest in Solana, as reported by Altcoin Daily.

Shift in Investment

Pompliano, known for his work as the host of The Pomp Podcast, recently shared the reasoning behind this decision in a YouTube podcast. He discussed Solana's potential to outperform Ethereum shortly.

Anthony Pompliano revealed that he started his crypto journey by mining Ethereum in 2016. He previously disclosed this during the bear market in November 2022. However, recent developments prompted him to sell his Ethereum holdings in favor of Solana. Pompliano's decision reflects his confidence in Solana's future performance.

Market Data Insights

Meanwhile, recent market data indicates a shift in the profitability and trading volume between Solana and Ethereum. As reported earlier by The Crypto Basic, Solana surpassed Ethereum in profitability for the first time on May 15, 2024.

On-chain analyst Leon Waidmann reported that Solana generated over $2 million in economic value, surpassing Ethereum's figures following the launch of Ethereum Improvement Proposal (EIP) 4844.

A chart from Blockworks at the time illustrated the economic value trends for Solana and Ethereum from February 14 to May 12, 2024. Ethereum peaked at around $40 million in late February but saw a decline, stabilizing between $10 million and $15 million by April, eventually dropping to just under $2 million by mid-May.

Trading Volume Surge

In December 2023, Solana's trading volume also showed impressive growth due to surging interest. According to Kaiko Researcher Riyad Carey, Solana's volume on Upbit surpassed Ethereum's for 55 consecutive days, with similar trends observed on MEXC. Major exchanges like Kraken and Coinbase Global Inc. reported that Solana had outpaced Ethereum for multiple days.

Current Market Standing

Solana trades for $153.00 with a 24-hour trading volume of approximately $2.29 billion and a market cap of over $70 billion. Ethereum is valued at $3,527.78, with a 24-hour trading volume of about $14.2 billion and a market cap exceeding $423 billion.

"Pompliano's decision reflects his confidence in Solana's future performance."

This move by Anthony Pompliano could signal a broader shift in investor sentiment as market dynamics continue to evolve.