Many people are actually asking the wrong questions. If you're still tangled up in whether "ETH will be overtaken by SOL," then you might be looking at it from the wrong perspective.

In the true long-term game, Ethereum is not competing with other public chains for users, but rather fighting for settlement rights within the entire traditional financial system. These are two completely different levels of competition.

Let's start with the conclusion: chains like SOL, BNB, and AVAX are only competing within the layer of on-chain efficiency—speed, cost, and user experience. But what Ethereum is competing for are deeper issues—the question of which chain should handle global asset settlements.

What does SOL solve? Faster transaction speeds, cheaper fees, and smoother user experience. All of these are important, but they only determine "whether to use this chain," not "where assets are settled."

Ethereum addresses a different set of problems: how to minimize trust costs, how to ensure assets are securely stored long-term, how to make the financial system fully transparent and verifiable, and how to enable risk-free transfer of trillions of assets. Ultimately, speed is a product issue, but trust is a systemic issue. And financial markets will always prioritize systemic trust above all.

This is the true moat. The barriers in traditional finance are far higher than the competition between different chains.