The former leader of Ark Ivnest’s cryptocurrency division drew attention to an altcoin traded on the Binance exchange. The leader states that he is ready to support the dying Solana network. Here are the details…
Chris Burniske pointed to the coin traded on the Binance exchange
Ark Invest leader Chris Burniske announced his support for the Solana (SOL) network. cryptocoin.com As we reported in the morning hours, Ethereum (ETH) inventor Vitalik Buterin shared his good wishes regarding the Solana network. Burniske also says he agrees with the latest thread shared by Vitalik Buterin. He also has his reasons, as explained in a series of Twitter posts. Above all, Burniske believes that Solana’s ecosystem is full of talent and developers who can push innovation on the network regardless of what we can find in Ethereum or Cosmos, even without the support of venture capital pushing Solana’s competitors forward.
According to Burniske, some of the Solana devotees are “hardware junkies” and others are network optimization enthusiasts who are largely committed to making Solana a better ecosystem. The validator community is also really excited about Solana not only because of the financial opportunities, but also about what the entire system can achieve. Burniske also highlighted the personality behind the network, saying that Anatoly Yakovenko is more pragmatic than Vitalik Buterin or the founder of Cosmos. He stated that he expects a more efficient future for blockchain.
What did Vitalik Buterin say?
Ethereum co-founder Vitalik Buterin recently expressed his hopes for the developer community of Solana, a rival blockchain project. In a tweet, he commented, “horribly opportunistic money people washed away.” Buterin wished these developers the best of luck, although it might be difficult for him to do an outside evaluation. In 2021, many investors bought from Solana in the hopes of quick financial rewards, not caring too much about the future value of the technology. With these investors gone, Buterin seems to believe the time has come for real developers who are passionate about the potential of blockchain to shine.
Since peaking near $260 in November 2021, Solana has seen its value drop by a staggering 97 percent. This lowered its current market value to just over $3 billion. It currently ranks 22nd by market cap, according to CoinGecko. FTX’s collapse in November shook much of the cryptocurrency market, with Bitcoin falling to its lowest level in two years.
However, due to its close association with FTX founder Sam Bankman-Fried and his startups, Solana’s price has been more significantly affected than other major coins. On top of that, Blockchain has experienced technical difficulties with multiple network outages throughout 2022. That’s a pretty big drop for the project that was once considered the top “Ethereum killer”.