Tuesday 31 January 2023
Home / none / Ethereum founder says he hopes Solana gets a ‘chance to thrive’

Ethereum founder says he hopes Solana gets a ‘chance to thrive’

Ethereum founder Vitalik Buterin showed sympathy for competitor Solana in a Dec. 30 tweet. He said that “smart people” tell him that Solana has “an earnest smart developer community” and suggested that the opportunists who were involved with the project in the past have been “washed out.”

Buterin also expressed hope that the Solana community “gets its fair chance to thrive.”

The price of SOL has fallen by over 90% since its peak, partially because of the coin’s association with the failed FTX exchange. But Solana developers have argued that FTX’s collapse did not harm the network itself.

Vitalik’s praise for Solana impressed many in the Crypto Twitter community. Ari Paul of BlockTower Capital produced a Twitter thread that argued more crypto companies should follow Vitalik’s lead, as he explained, “This is how someone behaves who is happy to ‘compete’ on merit, and thinks in positive sum terms. One fun test you can give anyone on almost anything (service providers, fund managers, devs, whatever)[…]Ask them about the competition in positive form.”

Not everyone was happy with Buterin’s statement though. Former poker pro Mike McDonald saw the statement as “virtue signaling.”

Some critics also thought the timing of Buterin’s tweet was suspect. Would he have praised Solana if it was still doing well?

Solana was once dubbed an Ethereum killer, partially due to its high scalability. But it has also been criticized by some for being too centralized and unstable.

Original Article

About Jude Savage

Check Also

Solana price rally risks exhaustion after SOL’s 120% pump in two weeks

Solana (SOL) price is up an impressive 60% since the new year, partially boosted by hype surrounding meme cryptocurrency Bonk (BONK). However, the SOL/USD pair now shows signs of exhaustion, raising anticipations that the token may see a short-term correction in the coming days. Solana turns overboughtSolana is one of the best performing cryptocurrencies so far in 2023 after being one of the biggest losers in 2022. On Jan. 9, SOL's price jumped to as high as $19.50, or around 120% gains in a recovery rally after sliding below $8 on Dec. 29, 2022. But the price spik also turned Solana into an overbought asset, per its daily relative strength index (RSI) reading above 70, as shown below. SOL/USD daily price chart. Source: TradingViewTraditional investors typically see an overbought RSI as a potential sell signal, given the indicator has historically coincided with a period of buyer exhaustion. As a result, SOL's price could enter a correction or a sideways consolidation stag..

Leave a Reply

Your email address will not be published. Required fields are marked *