According to Anatoly Yakovenko, CEO of Solana, there are no bubbles in the cryptocurrency market now. Market growth is driven by the development of the industry and solutions for real applications.
The bitcoin rate is growing and most altcoins continue to grow. At the same time, the growth rate of the SOL coin is significantly higher than that of most other cryptocurrencies.
Over the past month, SOL’s rate has tripled. Some analysts expect this cryptocurrency to continue to grow. But CEO Solana does not believe that another bubble is inflating in the market.
“Now is a completely different time and it is not worth comparing the current situation with a bubble. In 2017, the bubble quickly inflated and quickly burst, but since then three years have passed and all this time people have been working, creating various solutions and projects. Now is the time when we have created the infrastructure so that new engineers and developers can quickly “merge” into the ecosystem, ”stressed Yakovenko.
According to him, the time for conversations and white papers has passed. Nowadays, most projects have already created workable solutions for people. CEO Solana said that the rate of SOL or other cryptocurrencies is no longer so important, since the products are already used in real life. And the collectible token (NFT) boom, even if it passes quickly, will attract new creative people to the industry.
Yakovenko reminded of the dot-com boom, when many companies raised huge funds and burst. But the Internet itself continued to live and develop. The cryptocurrency industry is following the same path:
“This is probably the same time in the industry as when e-mail began to spread on the Internet.”
Recently, analysts at investment bank JPMorgan said the continuing rally in altcoins should be viewed as a serious warning to investors – a clear sign of a bursting bubble.
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