Saturday, July 13, 2024

Solana Price Targets $70: Anatoly Yakovenko Debunks SOL as Ethereum Rival.

The creator of Solana, Anatoly Yakovenko, envisions a time where SOL and Ether (ETH) may coexist together. He exhorts us to reject the notion that the prosperity of one ecosystem must come at the price of another.

Solana founder wants SOL vs. ETH cold war binned
Anatoly Yakovenko, the founder of Solana (SOL), has advised his supporters not to repeat the narrative that was prevalent during the last cycle, which pitted SOL against Ethereum (ETH), declaring that it is “lame.” The Solana CEO sees a scenario in which the two ecosystems may survive and even compete by taking advantage of their shared characteristics.

The eruption follows the announcement by Rune Christensen, CEO and co-founder of MakerDAO, that the protocol’s NewChain will be split off from Ethereum and placed on the Solana blockchain. Even if he might have meant no harm, the community saw it as a competition between Ethereum and Solana. But Yakovenko believes that the biosphere can only suffer from this conflict.

Yakovenko refutes the notion that “Solana thrives and somehow Ethereum dies,” expressing hope that Danksharding will have the bandwidth to hold the entirety of the Solana data.

Notably, Danksharding is a method that makes it possible for blockchains to add blocks at a lower cost. By boosting storage space for roll-up transactions, this Ethereum rollup scaling technique boosts transactional throughput.

Not for the first time.

Yakovenko is making repeated attempts to diffuse the conflict between Ethereum and Solana. An Ethereum community member criticized Solana in an October citation on jebus.eth, comparing it to the Democratic Party of cryptocurrency. He referred to it as a “coalition of poor and wealthy people,” saying that they were a collection of individuals who valued inexpensiveness over quality and were ignorant of worth and its source.

Yakovenko responded by arguing that Ethereum “presents itself not as a harbinger of genuine revolution but merely as a novel spectacle of bourgeois upheaval” in the big theater of economic development.

In the meantime, the price of solana is still oriented northward, showing a 2% daily increase along with an 11% increase in trading volume. Price and trading volume parity indicate that buyers are very interested in the asset. It also suggests improved order execution, increased liquidity, and a more lively market for buyer-seller connections.

As of this writing, the cryptocurrency is trading at $63.58, and with the increasing momentum and the presence of bulls in the SOL market, one should keep a lookout for the $70.00 milestone. The Awesome Oscillator’s (AO) green histogram bars in the positive region and the northward RSI both suggest this.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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