After Solana’s price soared to $25 over the past two days, the altcoin community found itself in the middle of a heated debate over whether Solana is a true competitor to Ethereum or a new spectacle in the ever-evolving cryptocurrency world. Solana’s meteoric rise to become the seventh-largest cryptocurrency by market cap has garnered a lot of attention and led members of the Ethereum community to question its legitimacy as a competitor. However, the founder of Solana did not remain silent about these discussions. Here are the details…
Solana founder criticizes leading altcoin ETH
Ethereum enthusiast jebus.eth recently likened Solana to the Democratic Party of crypto. “It’s a coalition of poor and rich who don’t understand where value actually comes from or how to create it, but just think the things they want should be cheap,” he said. Solana co-founder Anatoly Yakovenko wasted no time in responding to these criticisms. “In the theater of great economic transformation, Ethereum presents itself not as a harbinger of a real revolution, but merely as a new demonstration of bourgeois uprising,” Yakovenko said.
He further elaborated his perspective by emphasizing that while some have fun in this digital age, the underlying oppression continues, albeit in different manifestations. Yakovenko passionately advocates the creation of a completely stateless digital space, where unhindered communications and transactions flow freely between people, free from the control of capitalist intermediaries and government surveillance.
Ethereum does not meet the need for decentralization
In Yakovenko’s vision, the cost of establishing a governing body should be insignificant, similar to the accessibility and ubiquity of air. Only when digital creation becomes as accessible and affordable as a basic need can we leave behind the shadows of Ethereum’s tenuous digital control and usher in a truly decentralized and stateless digital space. However, amid heated debate, Solana attracted the attention of investors. cryptokoin.com As we reported, its price rose to $25 last weekend. Currently, according to data, SOL is trading at $23.61 with a market cap of $9.7 billion.
In order for Solana to reach a $30 price point, it must convincingly overcome the $25 resistance level, which has proven to be challenging. Failure to exceed this level could potentially lead to a decline of as much as $20. As a result, the cryptocurrency community is eagerly waiting to see whether the bullish momentum can be sustained. The clash of ideologies and the burgeoning rivalry between Solana and Ethereum have added an intriguing layer to the cryptocurrency world. One wonders whether Solana can realize his vision of a truly decentralized space. On the other hand, whether Ethereum can maintain its dominance remains a matter of intense debate within the crypto community.
