- Bitwise CIO Matt Hougan says Ethereum and Solana are diverging on valuation models — monetary vs. revenue-driven — with no clear winner yet.
- Hougan recommends holding both assets rather than picking one, calling the comparison “fascinating” and “indeterminate.”
- Both Hougan and Head of Research Ryan Rasmussen predict ETH could exceed $8,000 by 2030, and Bitcoin could surpass $180,000.
- Hougan’s comments follow an August memo arguing that crypto networks outside Bitcoin can double in value as they adopt revenue-capture mechanisms like fee burns and buybacks.
Bitwise chief investment officer Matt Hougan said during a Thursday interview with The Rollup that the divergence between Ethereum and Solana remains one of the market’s most fascinating comparisons. “I think there’s a pretty fascinating thing going on in the market between ETH and Solana, with one positioning on a monetary side, one positioning more on a revenue-driven side,” Hougan said.
He described the outcome as indeterminate, noting that it is not yet clear which valuation approach the market will reward. “My favorite approach is just to own them both,” Hougan added.
The comments came after Hougan and Head of Research Ryan Rasmussen were asked to take the over or under on an $8,000 Ethereum price target by 2030; both took the over. They also discussed a Bitcoin target of $180,000 by 2030, with Rasmussen advising investors not to set overly bullish targets on every crypto asset.
Meanwhile, Ethereum’s price dipped 2% in the past 24 hours, while Solana also fell 2%. Retail sentiment on Ethereum remained neutral, but Solana saw extremely bullish sentiment, according to data from Stocktwits.
The remarks follow an August memo from Hougan arguing that crypto valuations outside Bitcoin can double as base-layer networks funnel revenue to token holders through buybacks and burns. He noted that Solana’s SGP-0003 governance process bundles proposals to increase fee burns and reduce issuance.
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