{"id":477492,"date":"2021-11-27T20:00:51","date_gmt":"2021-11-27T20:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=477492"},"modified":"2021-11-27T19:51:27","modified_gmt":"2021-11-27T19:51:27","slug":"solana-could-become-the-next-bitcoin-according-to-ftxs-sam-bankman-fried","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-could-become-the-next-bitcoin-according-to-ftxs-sam-bankman-fried\/","title":{"rendered":"Solana Could Become The Next Bitcoin, According To FTX\u2019s Sam Bankman-Fried"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Sam Bankman-Fried, the founder of the crypto exchange FTX, is optimistic about Solana (SOL). He believes that Solana has the potential to scale to Bitcoin&#8217;s (BTC) mass adoption level. Bankman-Fried added that Avalanche (AVAX) also has the potential to climb to the top.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He also believes Solana is better than ethereum as it&#8217;s one of the few blockchains with a plan to accommodate mass adoption.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/solana\/solana-hits-all-time-high-fourth-place\/\">Solana Hits New All-Time High, Surpasses Cardano And Tether To Fourth Place<\/a><\/em><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">The 29-year old crypto founder has a net worth of $22.5 billion, making him the youngest person to enter the Forbes\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.forbes.com\/sites\/stevenehrlich\/2021\/10\/06\/the-richest-under-30-in-the-world-all-thanks-to-crypto\/?sh=79dd27623f4d\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">rich list<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0after Mark Zuckerberg.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Cryptos With The Potential For Real Adoption<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In an\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.kitco.com\/news\/video\/show\/Market-Analysis\/3748\/2021-11-25\/Could-this-be-the-next-Bitcoin-FTX-founder-Sam-Bankman-Fried-on-massive-adoption#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">interview\u00a0<\/span><\/a><span data-preserver-spaces=\"true\">with Kitco News on Thursday, Bankman-Fried talked about bull and bear runs. And which projects would see mass institutional adoption.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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 \u201csee substantial institutional adoption of cryptocurrencies.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the event of a crash, however, he says that projects with loyal followers and important use-cases are more likely to survive. Hype-driven projects, like meme coins, often crash the hardest. \u201cProjects that have real adoption, or potential for real adoption are the ones that loyalists will be backing, even during bear markets.\u201d<\/span><\/p>\n<p>Bankman-Fried also believes that Solana could be the next Bitcoin. And that there is a possibility that it could see mass adoption very soon. As he has previously said, Solana has a plausible roadmap to scale millions of transactions per second. And that is the most important indicator.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/FjUvvBuG\/\" alt=\"SOLUSD on TradingView.com\" width=\"1012\" height=\"598\"><\/p>\n<pre style=\"text-align: center\">SOL trading at $196.5 | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/thNkmlDT\/\" rel=\"nofollow\">SOLUSD on TradingView.com<\/a><\/pre>\n<p>\u201cI think Solana has a shot at doing so, which is really exciting. I think that there are other tokens out there as well that are aiming to scale a bit, and Avalanche is one of them.\u201d He emphasized that the core technology of every blockchain is something that is hard to overhaul. Furthermore, he says that Solana could potentially be the base for more DeFi applications in the future.<\/p>\n<p>Bankman-Fried adds that Solana&#8217;s market cap could exceed Ethereum&#8217;s market. However, it is hard to make a concrete prediction. But one thing that cannot be disputed is that Solana fixes a lot of problems with Ethereum. These include high gas fees and low transaction rates. Subsequently, many have dubbed the network &#8220;ethereum killer.&#8221;<\/p>\n<h2><span data-preserver-spaces=\"true\">Solana Is Better Than Ethereum<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bankman-Fried believes that in terms of scale, not many blockchains could compare to Solana. Earlier this month, he spoke at Yahoo Finance and Decrypts&#8217;s &#8220;Crypto Goes Mainstream&#8221;\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/finance.yahoo.com\/video\/yahoo-finance-live-nov-09-144954467.html\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">conference<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/solana\/chamath-palihapitiya-invested-solana\/\">Why Billionaire Chamath Palihapitiya Invested In The Solana Ecosystem<\/a><\/em><\/strong><\/p>\n<p>&#8220;Solana is one of the few currently existing public blockchains that has a really plausible roadmap to scale millions of transactions per second at you know, fractions of a penny per transaction, which is a scale that you need for this,&#8221; Bankman-Fried said.<br \/>\n&#8220;That is not where a lot of other blockchains have been focusing, including ethereum.&#8221;<\/p>\n<pre style=\"text-align: center\">Featured image by Forbes, Chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Sam Bankman-Fried, the founder of the crypto exchange FTX, is optimistic about Solana (SOL). He believes that Solana has the potential to scale to Bitcoin&#8217;s (BTC) mass adoption level. Bankman-Fried added that Avalanche (AVAX) also has the potential to climb to the top. He also believes Solana is better than ethereum as it&#8217;s one of the few blockchains with a plan to accommodate mass adoption. Related Reading |\u00a0Solana Hits New All-Time High, Surpasses Cardano And Tether To Fourth Place The 29-year old crypto founder has a net worth of $22.5 billion, making him the youngest person to enter the Forbes\u00a0rich list\u00a0after Mark Zuckerberg. Cryptos With The Potential For Real Adoption In an\u00a0interview\u00a0with 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 \u201csee substantial institutional adoption of cryptocurrencies.\u201d In the event of a crash, however, he says that projects with loyal followers and important use-cases are more likely to survive. Hype-driven projects, like meme coins, often crash the hardest. \u201cProjects that have real adoption, or potential for real adoption are the ones that loyalists will be backing, even during bear markets.\u201d Bankman-Fried also believes that Solana could be the next Bitcoin. And that there is a possibility that it could see mass adoption very soon. As he has previously said, Solana has a plausible roadmap to scale millions of transactions per second. And that is the most important indicator. SOL trading at $196.5 | Source: SOLUSD on TradingView.com \u201cI think Solana has a shot at doing so, which is really exciting. I think that there are other tokens out there as well that are aiming to scale a bit, and Avalanche is one of them.\u201d He emphasized that the core technology of every blockchain is something that is hard to overhaul. Furthermore, he says that Solana could potentially be the base for more DeFi applications in the future. Bankman-Fried adds that Solana&#8217;s market cap could exceed Ethereum&#8217;s market. However, it is hard to make a concrete prediction. But one thing that cannot be disputed is that Solana fixes a lot of problems with Ethereum. These include high gas fees and low transaction rates. Subsequently, many have dubbed the network &#8220;ethereum killer.&#8221; Solana Is Better Than Ethereum Bankman-Fried believes that in terms of scale, not many blockchains could compare to Solana. Earlier this month, he spoke at Yahoo Finance and Decrypts&#8217;s &#8220;Crypto Goes Mainstream&#8221;\u00a0conference. Related Reading |\u00a0Why Billionaire Chamath Palihapitiya Invested In The Solana Ecosystem &#8220;Solana is one of the few currently existing public blockchains that has a really plausible roadmap to scale millions of transactions per second at you know, fractions of a penny per transaction, which is a scale that you need for this,&#8221; Bankman-Fried said. &#8220;That is not where a lot of other blockchains have been focusing, including ethereum.&#8221; Featured image by Forbes, Chart from TradingView.com<\/p>\n","protected":false},"author":545,"featured_media":477524,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[428,1119,1946,71704,84460,83748,12837,83626],"class_list":["post-477492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-bitcoin","tag-btc","tag-ethereum","tag-ftx","tag-ftx-exchange","tag-sam-bankman-fried","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n<title>Solana Could Become The Next Bitcoin, According To FTX\u2019s Sam Bankman-Fried<\/title>\n<meta name=\"description\" content=\"Sam Bankman-Fried, the founder of the crypto exchange FTX, is optimistic about Solana (SOL). 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