Solana (SOL) continues to be a topic of discussion in the cryptocurrency community, as it has attracted interest due to the huge loss in value it has suffered after the collapse of FTX and Alameda, of which it turned out to have a “link” that significantly influenced its price path upwards.
In this article we list three different views that have been expressed about Solana, by as many very important presences in the cryptocurrency space.
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Popular economist, Alex Kruger, expressed the opinion that Solana (SOL) is probably ready for a rally as far as its price is concerned. He stressed his optimism about Solana’s near-term future, as – as he noted – it likely mimics the pattern of the automatic yield cultivation protocol, Yearn.Finance (YFI), back in 2020.
However, Solana has been registering its own counterattack in recent days, as from $8 on December 30, the price has now surpassed $11. At the time of writing this piece, i
t remains around 90% below its all-time record high, set in November 2021.
However, Krüger notes that although he expects SOL to rally in price in the coming weeks, he stresses that he does not see it reaching huge upside.
Moreover, Krüger warns that it is very likely that Solana will never again reach its all-time high, which was around $260.
For its part, cryptocurrency market intelligence firm, Santiment, has a less optimistic view on Solana’s future price action. According to Santiment, Solana has plummeted 73% in the last eight weeks due to fear, uncertainty and doubt (FUD) from the FTX collapse.
“FUD is strong towards the once thriving asset and seems to be a pretty good excuse to halt development activity on the network,” the firm said.
Santiment adds that a technical indicator suggests that interest in Solana is waning:
“Other glaring issues suggest that trading volumes are at year low levels and this asset does not appear to have many signs that there is ‘light at the end of the tunnel’. Odds are that it’s hard to make an argument to hold on to the SOL at this time.”
The third opinion we host on this topic is that of Ethereum founder Vitalik Buterin, who suggested that Solana may have a bright future.
“Some smart people tell me that there is an honest community of smart developers on Solana and now that the awful opportunistic money has been laundered, the chain has a bright future. It’s hard for me to say it from the outside, but I hope the community gets its fair chance to thrive,” he said with a nod.
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