A venture capitalist who correctly described the cryptocurrency bottom of 2022 says an Ethereum (ETH) competitor looks poised to outperform the leading smart contract platform.
Chris Burniski, Founder, Placeholder Capital, Tells His 263,000 followers on social media platform X show that Solana (SOL) looks set to outperform top altcoins during the next risk expansion in the cryptocurrency markets.
Looking at the SOL/ETH pair, Burniski notes that Solana has already reclaimed 0.01 ETH and may be on its way to 0.02 ETH in the next batch.
“SOL: 0.01 ETH recovered first, 0.02 ETH in the next big risk expansion?”
Veteran crypto investor notes His prediction is not a criticism of Ethereum and he is bullish on both ETH and SOL simultaneously.
“For those who think this is an attack on ETH, think again. Both assets and networks are very easy to maintain and support – different risks, different visions, and both are good. I’ve been doing the same thing with Bitcoin and ETH for a long time, much to my chagrin People who were once powerful [Bitcoin maxis]”.
According to Poniski, so is Solana an offer Signs of “revival from the ashes” due to lower transaction fees and higher throughput.
“Quiet product launches, job upgrades, lower fees, increased productivity, no hype — all these are signs of a new product cycle emerging from the ashes.”
Solana has fallen sharply from its all-time high of $259.24 set in November 2021 to its current price of $19.45, which is a decline of 92.5%.
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