An accurate prediction of the bear market bottoming out last year. crypto- investors doubled some of their forecasts despite falling markets.
Chris Burniske, partner at venture capital firm Placeholder and former analyst at ARK Invest, says recent bearish price movements at Solana (SOL) and Cosmos (ATOM) mean little on a grand scale.
Last week, the US Securities and Exchange Commission (SEC) filed a lawsuit against crypto exchanges Coinbase and Binance. LEFTListed various assets, including , as securities.
The lawsuit caused a massive drop in altcoin markets. Solana is currently down nearly 94% from its all-time high. cosmos It lost more than 81% of its value.
Burniske, who previously said Solana is the next “Ethereum-level” opportunity in crypto, is unaffected by recent events. says.
“To answer those who have asked me about the SOL, ATOM, or ____ token, why would any argument change because of something a self-interested regulator did? Recent events will remain an aberration in retrospect.”
NEWS CONTINUES BELOWIn February, Burniske said Solana was both contentious and undervalued.
“I think if I had to choose an ecosystem that was contentious and that you had to pay attention to, and it was undervalued because of its contention, it would be Solana. The placeholder tends to pick one or two ecosystems in each bear market and build an aircraft carrier strategy around that ecosystem. The last bear market was ETH and Bitcoin, because they were really the only things that were liquid and on scale that could be justified.
By aircraft carrier, I mean this: if you buy Ethereum, you buy a bunch of core ETH assets, but then you get to see this ecosystem and all the people working, for example, on lending or DEXs (decentralized exchanges) or asset management or something at the time. really get to know who you are. Then you can choose the best teams among the teams that appeal to you the most from the entrepreneurial perspective. We are currently implementing the same carrier strategy for Cosmos and Solana.”