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- Vitalik Buterin is bullish on Solana, following the exit of certain key figures.
- Investors’ sentiments towards Solana remain largely negative, but SOL bulls are regaining momentum.
Recent comments from Ethereum’s Vitalik Buterin on Solana have stirred a lot of buzz within the crypto community.
In a very recent tweet, the co-founder of Ethereum expressed a positive outlook on the growth of the Solana blockchain, which has been dubbed the “Ethereum Killer.”
Buterin reveals that Solana has the possibility to scale even higher in the near future. He cites the involvement of clever developers within the community as a key factor that will drive this change.
Some smart people tell me there is an earnest smart developer community in Solana, and now that the awful opportunistic money people have been washed out, the chain has a bright future. Hard for me to tell from the outside, but I hope the community gets its fair chance to thrive.
The tweet has since activated an ongoing conversation among some of the industry’s most notable figures. Bill Barhydt, the CEO of Crypto wallet Abra, commented on Buterin’s post, urging other dApp developers and platform builders to imitate Vitalik Biterin’s thought process.
Similarly, Ari Paul, the CIO of BlockTower Capital commended Buterin, saying that his comments reflect Buterin’s excitement to “compete on merit.”
if a company or person (or protocol community) is afraid of what their users/investors/employees might discover if they explored the competition…what does that say about their confidence in what they’re offering?
Solana is still in troubled waters; will it make a much-needed comeback?
The collapse of FTX has impacted the cryptocurrency market in many ways. Investors have pulled out from cryptocurrencies and projects that pose a high risk to their investments. Solana, one of the projects that were heavily backed by FTX’s founder Sam Bankman-Fried, has received a lot of negative press following the FTX controversy.
Remarkably, Sam Bankman-Fried reiterated on multiple occasions that Solana was heavily undervalued. He also made it clear both subjectively and objectively, that Solana was superior to many other blockchains. FTX exchange also held $982 million in SOL before its demise.
It, therefore, came as no surprise that the price of SOL declined by 30 percent, following the crash of FTX. Since then, Solana has received negative press from investors who critique the project’s credibility.
While investors and institutions might need to record significant network growth to sway them into taking a chance on the project, Vitalik Buterin’s free PR for Solana could play a small role in reassuring investors of the network’s underlying value.
SOL, currently trading at $9.79, is making an attempt to claim new support levels. The asset is up nearly 7 percent in the last 24 hours.
