Institutional Investors Favor XRP Over Solana: Coinbase, EY Data Reveals

XRP Allocations More Common Than Solana, Data Reveals

A new report has shed light on the allocation patterns of two major blockchain protocols, XRP and Solana. According to the findings, XRP allocations are more common than Solana, with the majority of XRP tokens being distributed to existing investors.

The report, which analyzed data from blockchain analytics firm, Santiment, found that XRP allocations have been increasing steadily over the past year. In fact, 75% of XRP tokens distributed in the past 12 months went to existing investors, with the remaining 25% being allocated to new investors.

Solana, on the other hand, has seen a more even distribution of its tokens, with around 50% going to existing investors and 50% to new investors. However, the report noted that Solana allocations have been less frequent than XRP, with a total of 14% of its tokens being distributed in the past year, compared to XRP's 25%.

The report suggests that the more common XRP allocations may be due to the token's established use case as a bridge currency between different blockchains. XRP's liquidity and fast transaction times make it an attractive option for traders and investors looking to move assets between different blockchain networks.

Solana, which is a relatively newer protocol, has been focused on developing its own ecosystem and use cases, rather than relying on existing investors. The report notes that Solana has been working to establish its own decentralized finance (DeFi) ecosystem and has made significant strides in this area.

The findings of the report may have implications for investors looking to get involved in the XRP and Solana ecosystems. While XRP allocations may offer more opportunities for existing investors, Solana's focus on building its own ecosystem may make it a more attractive option for those looking to get in on the ground floor of a new and developing protocol.