The Founder of the cryptocurrency exchange FTX, Sam Bankman-Fried, believes Solana (SOL) could become the next most dominant digital project.
The Founder of the cryptocurrency exchange FTX – Sam Bankman-Fried – believes Solana (SOL) could become the next most dominant digital asset project. He added that Avalanche (AVAX) is another blockchain network that can climb to the top.
In an interview with Kitco News on Thursday, Bankman-Fried talked about bull and bear runs. And which projects would see mass institutional adoption.
When asked if he thinks Bitcoin would see its last Bull run in December before eventually crashing, Bankman-Fried responded that he could not predict the future. However, there will always be more crashes as well as more bull runs. And in the next few years, he expects to see “see substantial institutional adoption of cryptocurrencies.”
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.
Quotes
“I think that generally, the projects that you see surviving the best are the ones that have huge loyal followings and the ones that have important use cases. I think the ones that seemed more like hype-driven often crashed the hardest. But when you look at projects that have either a lot of real adoption or is it potential for a lot of real adoption, those are projects that loyalists will be backing even during a bear market. And so I think that you’re looking at blockchains that could see huge adoption. You are looking at various exchanges and other infrastructure players are going to be key to this space going forward,” said Fried.
“Yeah, I think that is one of the most compelling parts is that it has the potential to scale to the place where things are needing to scale if blockchain gets huge. And it has the potential to host DeFi applications for hundreds of millions to billions of people on top of it with a giant composable ecosystem. Again, that’s not saying necessarily will happen, but it could happen,” said Fried.
