Sam Bankman-Fried is positive about Solana (SOL), the creator of crypto exchange FTX. He believes that Solana has the potential to scale to Bitcoin’s (BTC) mass adoption level. Bankman Fried also stated that Avalanche, (AVAX), has the potential of climbing to the top.
He also believes Solana is better than ethereum as it’s one of the few blockchains with a plan to accommodate mass adoption.
Related Reading| Solana Hits New All-Time High, Surpasses Cardano And Tether To Fourth Place
His net worth is $22.5 Billion, which makes him the Forbes’ youngest founder at the age of 29. rich list after Mark Zuckerberg.
Cryptos with the Potential for Real Adoption
An Interview Bankman Fried spoke with Kitco News about Thursday’s bull and bear run discussions. What projects might see institutional mass adoption?
Bankman-Fried was asked whether he believes Bitcoin will see its final Bull run in December, before finally crashing. There will be many more bull runs and more crashes. And in the next few years, he expects to see “see substantial institutional adoption of cryptocurrencies.”
He says projects that have loyal fans and use cases are more likely than others to survive a crash. Meme coins and hype-driven projects are often the most difficult to crash. “Projects that have real adoption, or potential for real adoption are the ones that loyalists will be backing, even during bear markets.”
Bankman Fried also thinks that Solana might be the next Bitcoin. There is also a chance that Solana could soon be widely adopted. Solana’s roadmap is plausible to handle millions of transactions per minute, just as he stated previously. This is the key indicator.
Source: SOLUSD on TradingView.com| Source: SOLUSD on TradingView.com
“I think Solana has a shot at doing so, which is really exciting. I think that there are other tokens out there as well that are aiming to scale a bit, and Avalanche is one of them.” He emphasized that the core technology of every blockchain is something that is hard to overhaul. He also stated that Solana may be the foundation for future DeFi applications.
Bankman-Fried adds that Solana’s market cap could exceed Ethereum’s market. It is difficult to predict the future. One thing is certain: Solana solves many problems that Ethereum has. This includes high transaction fees and low gas prices. Subsequently, many have dubbed the network “ethereum killer.”
Solana is better than Ethereum
Bankman-Fried thinks that Solana is the most scaled blockchain. Earlier this month, he spoke at Yahoo Finance and Decrypts’s “Crypto Goes Mainstream” Conference.
Similar Reading: Why Billionaire Chamath Palihapitiya invested in The Solana Ecosystem| Why Billionaire Chamath Palihapitiya Invested In The Solana Ecosystem
“Solana is one of the few currently existing public blockchains that has a really plausible roadmap to scale millions of transactions per second at you know, fractions of a penny per transaction, which is a scale that you need for this,” Bankman-Fried said.
“That is not where a lot of other blockchains have been focusing, including ethereum.”
Featured Image by Forbes. Chart from TradingView.com