TechFlow news — Andrew Kang, co-founder of Mechanism Capital, stated on X that true madness is repeatedly attempting to go long ETH/BTC and SOL/BTC (or SOL/ETH) in a bullish environment.
In the first six to seven years following Ethereum's inception, despite significant uncertainty, Ethereum was seen by many Bitcoin holders as an attractive risk asset. As such, many were willing to switch their holdings from Bitcoin to Ethereum. However, over time, Ether has gradually transformed from a risk asset into a safe-haven asset within the crypto market. The investment ratio between Ethereum and Bitcoin has become more fixed, and fewer investors are willing to shift their positions.
Andrew Kang believes that recent innovations such as booming Layer 2 networks and modular technologies may paradoxically place heavy pressure on Ethereum during periods of rising market risk appetite.
Unlike Ethereum, SOL has not faced these same challenges. Instead, Solana has crossed the chasm to become a blue-chip Layer 1 that has withstood the test of multiple market cycles. Its current high growth trajectory justifies substantial allocation. Conservative large-scale investors who previously felt comfortable only with Bitcoin and Ethereum are now beginning to view Solana as a simple and secure new alternative. It is precisely during this transitional phase—when Solana evolves from an emerging asset into a core or foundational asset—that presents a once-in-a-lifetime investment opportunity. In 2023, ETH/BTC experienced a structural shift in volatility. Even under similar conditions, SOL/BTC remains a superior trading pair.
