O'Leary Sees Solana and Avalanche Gaining Ground on Ethereum

Kevin O’Leary said Ethereum is unlikely to become the standard blockchain across all 11 S&P 500 sectors, pointing to concerns about its transaction speed. In remarks posted on September 20, he named Solana and Avalanche as networks that could attract industry interest.

O’Leary said companies want faster transaction processing and the ability to handle changing volumes. He framed the choice as a search for networks that fit specific business needs, rather than a single chain winning every sector.

That view marks a shift from his earlier belief that Ethereum could become the common platform. In a September 22 interview with The Rollup, O’Leary said he now expects industries to choose different chains.

Solana is one candidate because O’Leary cited its potential speed. Avalanche drew interest for its subnet design, which allows separate networks to set their own rules and validator arrangements.

The attraction is not just transaction speed. A sector-specific chain could be tailored to the requirements of a company or industry, while still connecting to a broader blockchain ecosystem.

O’Leary has also said that the first major stock exchange to adopt a blockchain could trigger wider uptake. He told The Block that executives across industries are considering different networks, and none are settling on the same one.

That makes adoption, not a general endorsement, the test to watch. A prominent company or exchange choosing a network could give it a foothold, but O’Leary’s comments do not establish that any named chain has secured such a deal.

He also warned that investors may need to rebalance as new facts emerge. For Ethereum, the challenge is whether its established position can offset speed concerns as businesses weigh competing networks.