A venture capitalist who correctly called the 2022 crypto bottom says that one Ethereum (ETH) rival appears primed to outperform the leading smart contract platform.
Chris Burniske, the founder of Placeholder Capital, tells his 263,000 followers on the social media platform X that Solana (SOL) looks poised to outperform the top altcoin during the next risk expansion in crypto markets.
Looking at the SOL/ETH pair, Burniske points out that Solana has reclaimed the 0.01 ETH level already and may be on track to hit 0.02 ETH in the next impulse.
“SOL: 0.01 ETH reclaimed first, 0.02 ETH on the next big risk expansion?”
The veteran crypto investor notes that his prediction is not a critique of Ethereum and that he’s bullish on both ETH and SOL simultaneously.
“For those that will think this is an attack on ETH, think again. Very easy to hold and support both assets and networks – different risks, different visions, both net good. Been doing the same with Bitcoin and ETH for a long time, much to the chagrin of the once-powerful [Bitcoin maxis].”
According to Burniske, Solana is showing signs of “coming to life from the ashes” due to its lower transaction fees and higher throughput.
“Quiet product launches, upgraded functionality, lower fees, more throughput, no hype – all signs of a new product cycle coming to life from the ashes.”
Solana has sharply decreased from its all-time high of $259.24 set in November 2021 to its current price of $19.45, a 92.5% devaluation.
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