The Milk Road Show Solana vs Ethereum, Base Token + PUMP Path to $100b w/ Ryan Connor & Jesse Eckel
Sep 17, 2025
Ryan Connor, Head of Research at Blockworks, and Jesse Eckel, Founder of Opact Venture, tackle the shifting dynamics in the crypto landscape. They debate whether Ethereum is losing its edge to Solana’s nimble experimentation. The conversation dives into the rising relevance of apps like Pump.fun, exploring creator incentives and revenue growth. Additionally, they examine the future prospects of the Base token amid regulatory challenges, igniting thoughts on how application innovation may redefine the crypto market.
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Big Tailwinds Trump Short-Term On‑Chain Signals
- Macro on-chain metrics matter less than two secular tailwinds: AI and crypto adoption.
- These tailwinds make being long risk assets sensible despite short-term pullbacks.
Charts Don’t Choose Winners — Distribution Does
- Chain-level revenue charts don't predict future winners by themselves.
- Team plans, distribution and where trad-fi flows go are the variables that will change market share.
Solana: The Experimentation Engine
- Solana leads as the fastest-growing playground for experimentation and DEX volume.
- Its throughput and UX attract experiments that often scale there rather than on EVM chains.