Solana price eyes $70 as founder Anatoly Yakovenko bins narrative that SOL is an Ethereum killer

Solana founder Anatoly Yakovenko has binned the narrative that SOL is an Ethereum killer.
He says that while the theory became loud during the past cycle, it should not be used in the coming one.
According to the Solana executives, it is okay for the two technologies to have overlapping features and compete.
Solana price continues to eye the $70.00 psychological mark, trading for $63.58 with prospects for more gains.

Solana founder Anatoly Yakovenko envisions a future where SOL and Ether (ETH) co-exist, urging that the whole narrative of one ecosystem kills the other be binned.

Also Read: Solana price nears $60 after 6% rise in a day as institutions pour millions into SOL

Solana founder wants SOL vs ETH cold war binned

Solana (SOL) founder Anatoly Yakovenko has urged his followers not to bring back the narrative that played during the past cycle, putting SOL against Ethereum (ETH), saying, “It is lame.” The Solana executive envisions a future where the two ecosystems can coexist, leveraging their overlapping features to compete.

Don’t bring back last cycle “eth killer” bs. It’s lame. Pareto efficient technologies can have overlapping features and will compete, but that’s all ok. I don’t see a future where solana thrives and somehow eth dies. I am such a techno optimist that I am certain that…
— toly (@aeyakovenko) December 2, 2023

The outburst comes after Rune Christensen, MakerDAO co-founder and CEO revealed plans to remove the protocol’s NewChain from Ethereum and fork it on the Solana blockchain. While his intentions may have been harmless, the community received it as a battle of the best between Solana and Ethereum. To Yakovenko, however, this battle can only be detrimental to the ecosystem.

Discrediting the perception that “Solana thrives and somehow Ethereum dies,” Yakovenko demonstrates optimism in Danksharding being able to have adequate bandwidth to contain the entire expanse of Solana data.

Notably, Danksharding is a technology that enables blockchain technology to add cheaper blocks. It is an Ethereum rollup scaling method that expands transactional throughput by increasing storage space for roll-up transactions.

Not the first time

This is not the first time Yakovenko is attempting to quell the Solana versus Ethereum feud. In an October citing, jebus.eth, an Ethereum community member took shots at Solana, likening it to the Democrat Party of crypto. He called it a “Coalition of poors and wealthy people,” who lack an understanding of value and its source, adding that it was a group of people who prioritized cheap over value.

Sol is like the dem party of crypto

Coallition of poors and wealthy ppl who don't understand where value actually comes from or how to create it, just that the things I want should be cheap
— Jebus.eth (@jebus911) October 1, 2023

In response, Yakovenko defended, “In the grand theatre of economic transformation, Ethereum presents itself not as a harbinger of genuine revolution, but merely as a novel spectacle of bourgeois upheaval.”

Meanwhile, Solana price remains committed to the north, boasting a 2% surge on the day, accompanied by an 11% climb in trading volume. The parity between price and trading volume points to strong interest in the asset by buyers. It also points to higher liquidity, better order execution, and a more active market for connecting a buyer and seller.

At the time of writing, the cryptocurrency is trading for $63.58, with eyes peeled on the $70.00 mark amid rising momentum and the presence of bulls in the SOL market. This is indicated by the northbound RSI and the green histogram bars of the Awesome Oscillator (AO) in the positive territory.

SOL/USDT 1-day chart

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram