Sam Bankman-Freed: Solana could squeeze Bitcoin and Ethereum

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Thanks to its scalability, Solana can become not only the leading blockchain protocol, but also evolve into the new Ethereum or Bitcoin. This was stated by the head of the FTX cryptocurrency exchange Sam Bankman-Fried in an interview with Kitco News.

“I am optimistic about Solana. She has every chance of doing this, which is very interesting, I think, ”he added.

Bankman-Freed also noted the Avalanche blockchain, whose native token hit its all-time high last week. He stressed that these are not the only projects that can surpass the permanent leaders in the digital asset capitalization rating.

According to the FTX chief, he expects to see “significant institutional adoption of cryptocurrencies over the next two years.” In particular, ETH could gain widespread adoption among this class of investors, even if the underlying protocol of the cryptocurrency does not make significant progress.

Bankman-Fried did not rule out the onset of a new crypto winter, but clarified that successful projects will not disappear even in conditions similar to 2018.

“The projects that survive best are those with a huge number of truly dedicated supporters and important use cases. I think that HYIP projects often suffer the most serious damage, “explained the head of FTX.

He also touched upon the topic of the Squid Game (SQUID) project, whose investors lost more than $ 19 million. In October, the price of SQUID rose rapidly in a short time, reaching $ 2856 at a certain point, and fell sharply in early November.

According to Bankman-Fried, such dubious projects will always exist on the market. He noted two “red flags” that were supposed to warn investors against rash investments: the lack of direct connection with Netflix and the anonymity of the creators.

As a reminder, Stripe co-founder and president John Collison said his attention was drawn to Solana and the Lightning Network.

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