Updated on:12/08/2025 04:54 PM 
In a recent social media exchange that captured the cryptocurrency community's attention, Solana's founder Anatoly Yakovenko made a remark that was initially misinterpreted in our previous coverage.
During a December 25 Twitter exchange, Yakovenko playfully suggested that Solana could be positioned as an Ethereum layer-2 solution through its Wormhole eigenlayer. This lighthearted comment came in response to a tweet listing various layer-2 solutions including Arbitrum, Aztec, and Polygon. With characteristic wit, Yakovenko quipped:
This satirical statement was designed to ironically contrast Solana—a standalone blockchain ecosystem—with Ethereum's layer-2 solutions. The references to Wormhole eigenlayer and the hypothetical submission of Solana blocks to Ethereum were deliberately exaggerated elements of this jest.
Our initial reporting unfortunately presented this commentary as a serious declaration and failed to recognize its humorous intent. Consequently, our coverage suggested that Yakovenko genuinely advocated for Solana as an Ethereum layer-2 solution. We sincerely apologize for this misinterpretation and any confusion caused by our failure to detect the ironic nature of his statement.
Beyond the jesting remarks, Solana has demonstrated remarkable performance as 2023 draws to a close. December proved to be a particularly dynamic month for the blockchain, showcasing one of the most impressive price recoveries observed in the final quarter. The total value locked (TVL) on Solana experienced extraordinary growth, more than doubling from $671.62 million at month's start to $1.529 billion by December 26.
When measured in SOL tokens rather than USD, this increase was more restrained, rising from 11.35 million SOL to 12.56 million SOL over the same period. This divergence highlights the substantial appreciation in SOL's value, which escalated from $59.2 to $121.4, consequently elevating the dollar-denominated valuation of TVL.
Notably, Solana achieved a significant milestone by surpassing XRP in market capitalization, securing its position as the fifth-largest cryptocurrency with a market cap of $34.8 billion as of December 20, 2023. This achievement followed an 11% surge in Solana's value, outperforming the broader market's 3% gain during the same timeframe. The SOL/ETH ratio, which compares Solana's valuation relative to Ethereum, also indicates a recovery trajectory, underscoring Solana's strengthening competitive position.
The SOL/ETH ratio serves as a crucial benchmark for evaluating Solana's competitive standing against Ethereum. This metric has undergone substantial fluctuations, with recent data revealing a notable recovery in Solana's market position relative to the second-largest cryptocurrency.
Solana's technological foundation, distinguished by its exceptional throughput and scalability, is engineered to support a wide array of decentralized applications (dApps) and decentralized finance (DeFi) use cases. The platform's growing appeal stems from its innovative consensus mechanism, "Proof of History," which facilitates rapid transaction processing and minimal fees. These attributes have established Solana as an increasingly attractive platform for developers building next-generation dApps and DeFi solutions.
