Fidelity Digital Assets said in its 2025 Outlook report that Ethereum outperforms Solana in the long term due to fundamental factors such as developer activity, total lock-up value (TVL), and stablecoin supply, but Solana has an advantage in the short term due to its rapidly growing transaction speed and low costs. The report points out that Solana's revenue and TVL are growing faster, but its trend of relying on memecoin trading is strong in a bull market and may weaken in a bear market. In contrast, Ethereum's fundamentals are less speculative and have stronger long-term stability. Solana plans to significantly increase transaction speed with the Firedancer upgrade, while Ethereum's Pectra upgrade focuses on functionality, scalability, and user safety, but has less direct impact on ETH investment value.