The inventor of Solana (SOL), the altcoin most affected by the collapse of FTX, is showing a bear trend in the blockchain, suggesting that the leading altcoin Ethereum could render its competitors useless.
“Ethereum can render Solana (SOL) useless!”
Solana inventor Anatoly Yakovenko shared his views on what he thinks the future will hold for its Ethereum rival. cryptocoin.com As we have reported, the point that draws attention here was that their views were not entirely in the direction of the bullish trend. According to Yakovenko, if the current process in the market continues in the same way, Ethereum could render its rival Solana useless.
Ethereum poses a major threat to Solana, as it is more known, more valuable, and more adopted than Solana. Yakovenko notes that Solana may not be providing something unique that Ethereum does not currently offer to investors. In line with this, “Even if Solana is 100 times faster. “Even if we do more transactions than all Ethereum combined, nothing changes,” he says. While all his claims are speculative, he is not so hopeful for Solana if the dangers persist. He states that if Solana’s value declines over time, her survival rates will steadily decline.
Damn Feds!
Also, the Solana inventor says he is fed up with the Federal Reserve’s increase in interest rates in the macro framework. Anatoly Yakovenko worries that smaller altcoin projects may suffer as a result if the Fed repeats the same action to curb inflation. He states that if this situation continues, investors may withdraw from Solana. In this context, Yakovenko comments:
I think this is a big question for any smart contract platform other than Ethereum: Will we be in a high-interest rate environment for the next five years where all risky bets are stuck and there is no traction?
Solana inventor’s thoughts on the future of crypto
Anatoly Yakovenko also talks about crypto and what to expect from future crypto projects. He has the same sentiments when it comes to the entire cryptocurrency industry. “What is crypto doing right now that is too important to the world to live without?” questions the future of crypto.
Speaking about the future of crypto, the Solana inventor is quite optimistic about the new numbers entering the market. He states that it has been on the rise much more than in 2018 and 2019. She notes that there are many smart young people who no longer want to join larger crypto companies. Instead, they focus more on creating great products, she says.
They also have positive predictions of what could potentially happen in the market in the next 12 to 18 months. According to him, every new product or event that may occur in the crypto market during this timeframe will have a greater impact on crypto than anything that has been introduced up to the time that crypto emerged. “Krypto has a chance to survive,” Yakovenko said. Because if new products are being released, the founders are ‘grinding’ for the product market and they will definitely get users,” he says.
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