In a tweet, the analyst scolded Solana supporters, who believe Solana is a more important project than Cardano.
Analyst is angry with Solana supporters
Crypto YouTuber Ben Armstrong AKA Bitboy scolded Solana supporters in a tweet today, who believe Solana is a more important project than Cardano. Sharing the list of cryptocurrencies by market cap, Bitboy claimed that ADA is a much larger cryptocurrency than SOL, pointing out that SOL has almost twice the market cap. He added that while ADA is in the top 10, SOL risks relegation to 15th place behind Tron’s TRX. At the time of this writing, SOL is ranked 15th by market cap under TRX. The crypto phenomenon expresses the belief that the end is near for Solana. The crypto project in particular has experienced a lot of fear, uncertainty, and suspicion due to its links to the defunct crypto exchange FTX and its discredited founder, Sam Bankman-Fried. Currently facing 8 scams in the US, SBF has hosted Solana developers and separately funded, supported and defended the project, even in the face of repeated outages.
The situation has been further complicated by recent announcements revealing plans to migrate from popular NFT projects to Ethereum. Bitboy claimed last week that more projects will be leaving the network. All this pushed the SOL price below $10. However, it has rebounded strongly in the last 3 days, gaining over 16% in the last 24 hours and was trading above $13 at the time of writing. It’s worth noting that for the second time in less than a week, the crypto phenom has critiqued Solana while speaking brilliantly about Cardano. Last Thursday, he claimed that Solana sacrifices decentralization for speed, while implying that Cardano is the most decentralized proof-of-stake network, sharing the per-transaction energy consumption chart for each network.
The price of SOL has increased what is driving it?
In the past 24 hours, Solana’s price has risen nearly 20% from $8, which it reached after the collapse of SBF, the chain’s major backer, which used funds from trading firm Alameda Research to buy. Huge amounts for this token. SOL recaptured the 15th position on the CMC, which SHIB recently lost. cryptocoin.com As we mentioned before, SOL dropped from $260 to $8. But now the market sentiment has improved somewhat.
The 17% rally for SOL was due to the recent airdrop of a new dog meme called BONK. For some reason, this event excited the LEFT community. However, BitBoy shared a theory that San Bankman-Fried and FTX could be behind BONK’s launch. The YouTuber admits that this is just his own assumption. But the longer he thinks about it, the more he believes there is some truth in it.