Solana will become the next Bitcoin, says FTX CEO Sam Bankman-Fried
- Sam Bankman-Fried told Kitco in an interview that the next Bitcoin would be a blockchain with high throughput like Solana and Avalanche.
- Though the Solana blockchain has failed to gain mass adoption, it is likely that it becomes the largest DeFi base layer.
- Institutions and influential investors are flocking to the Solana ecosystem, driving demand higher and increasing value captured by the altcoin.
- Analysts are bullish on SOL price, predicting a rally to $305 as the altcoin continues to climb.
The next Bitcoin has to be a blockchain with the potential to process thousands of transactions per second. Since the Solana blockchain can process 50,000 transactions per second, Sam Bankman-Fried sees potential in SOL becoming the next Bitcoin.
Analysts are bullish on Solana price, predict a rally to a new all-time high
Solana price plunged below $200 in the Black Friday crypto bloodbath. The altcoin’s price has recovered from the drop and is trading close to $200 at the time of writing. There is a spike in institutional inflow and capital rotation into Solana over the past two months.
Influential investors are bullish on Solana, contributing to a rise in the altcoin’s adoption. In a recent interview with Kitco, Sam Bankman-Fried (SBF) lauded Solana for the protocol’s ability to scale to millions of transactions per second. The FTX CEO said that it makes Solana an integral part of cryptocurrency adoption and the next Bitcoin.
Solana’s scalability could help it evolve into the new Ethereum or Bitcoin, and SBF was quoted as saying,
I am optimistic about Solana. She has every chance of doing this, which is very interesting, I think.
@venturefounder, a cryptocurrency analyst, believes that Solana may end up rivaling Ethereum with a rise in institutional adoption.
#SOLANA is where many influential investors are betting on (including SBF & FTX), and it is fast and cheap to use
— venturefoundΞr (@venturefounder) November 26, 2021
Cheap gas -> innovation -> value capture
GGSG is a blue-chip NFT for Solana, marketcap is tiny today, but if $SOL ends up rivaling $ETH, can easily go 10x from here pic.twitter.com/m1ToEzQPHi
Cryptocurrency analysts at “More Crypto Online” are bullish on Solana. Analysts have predicted a price rally to a new all-time high at $305 as the altcoin price trend reverses.
FXStreet analysts have evaluated the SOL price trend and predicted that by crossing $230, Solana could resume a parabolic trend.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
