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Ethereum competitors like Solana and NEAR will “grow massively” this year, according to Pantera Capital.

Digital asset investment giant Pantera Capital offers a bullish outlook for 2022 for Ethereum (ETH) rivals Solana (SOL) and Near.

In the most recent letter to investors, Pantera partner Paul Veradittakit said, to say Other smart contract platforms are eating up Ethereum’s market share, which currently accounts for just 63% of total value (TVL) in DeFi, down from 97% at the start of 2021.

Veradittakit says that Solana (SOL), which aims to be a faster and cheaper alternative to Ethereum, will thrive in 2022 as the number of projects in its ecosystem grows.

“Solana has had an incredible 2021, hitting a peak TVL of $15 billion and a peak price of $260 in November. This is much higher than $0.22 if it were in April 2020 with the Trading Begins Recent activity in the Solana community, including the launch of massive funds for social media and decentralized gaming, shows that the Thailand ecosystem will continue to grow strongly in 2022.

Veradittakit says that Near, the platform that launched Rainbow Bridge in April and enables the transfer of cryptocurrencies between blockchains, is also poised for explosive growth.

“Bridges (which enable interoperability between different networks), like NEAR’s Rainbow Bridge, will help accelerate the growth of non-Ethereum ecosystems by expanding access to liquidity accounts and enabling easier onboarding of digital assets. Ethereum virtual machines (EVMs), like Aurora on NEAR, also make it easier for Ethereum-based DApps (decentralized applications) to launch on other chains, improving cross-chain interactions in DeFi.”

At the time of writing, Solana is trading at $87.85 while Near is priced at $10.25. Ethereum is trading at $2,388.35.

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