Solana Could Become The Next Bitcoin, According To FTX’s Sam Bankman-Fried
November 27 2021 - 2:00PM
NEWSBTC
Sam Bankman-Fried, the founder of the crypto exchange FTX, is
optimistic about Solana (SOL). He believes that Solana has the
potential to scale to Bitcoin’s (BTC) mass adoption level.
Bankman-Fried added that Avalanche (AVAX) also has the potential to
climb to the top. He also believes Solana is better than ethereum
as it’s one of the few blockchains with a plan to accommodate mass
adoption. Related Reading | Solana Hits New All-Time High,
Surpasses Cardano And Tether To Fourth Place The 29-year old crypto
founder has a net worth of $22.5 billion, making him the youngest
person to enter the Forbes rich list after Mark
Zuckerberg. Cryptos With The Potential For Real Adoption In
an interview with Kitco News on Thursday, Bankman-Fried
talked about bull and bear runs. And which projects would see mass
institutional adoption. When asked if he thinks Bitcoin would see
its last Bull run in December before eventually crashing,
Bankman-Fried responded that he could not predict the future.
However, there will always be more crashes as well as more bull
runs. And in the next few years, he expects to see “see substantial
institutional adoption of cryptocurrencies.” In the event of a
crash, however, he says that projects with loyal followers and
important use-cases are more likely to survive. Hype-driven
projects, like meme coins, often crash the hardest. “Projects that
have real adoption, or potential for real adoption are the ones
that loyalists will be backing, even during bear markets.”
Bankman-Fried also believes that Solana could be the next Bitcoin.
And that there is a possibility that it could see mass adoption
very soon. As he has previously said, Solana has a plausible
roadmap to scale millions of transactions per second. And that is
the most important indicator. SOL trading at $196.5 | Source:
SOLUSD on TradingView.com “I think Solana has a shot at doing so,
which is really exciting. I think that there are other tokens out
there as well that are aiming to scale a bit, and Avalanche is one
of them.” He emphasized that the core technology of every
blockchain is something that is hard to overhaul. Furthermore, he
says that Solana could potentially be the base for more DeFi
applications in the future. Bankman-Fried adds that Solana’s market
cap could exceed Ethereum’s market. However, it is hard to make a
concrete prediction. But one thing that cannot be disputed is that
Solana fixes a lot of problems with Ethereum. These include high
gas fees and low transaction rates. Subsequently, many have dubbed
the network “ethereum killer.” Solana Is Better Than Ethereum
Bankman-Fried believes that in terms of scale, not many blockchains
could compare to Solana. Earlier this month, he spoke at Yahoo
Finance and Decrypts’s “Crypto Goes Mainstream” conference.
Related Reading | Why Billionaire Chamath Palihapitiya
Invested In The Solana Ecosystem “Solana is one of the few
currently existing public blockchains that has a really plausible
roadmap to scale millions of transactions per second at you know,
fractions of a penny per transaction, which is a scale that you
need for this,” Bankman-Fried said. “That is not where a lot of
other blockchains have been focusing, including ethereum.” Featured
image by Forbes, Chart from TradingView.com
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