Sam Bankman-Fried Says Solana Will Overtake Ethereum | Bitcoin magazine

Sam Bankman-Fried, CEO of the FTX exchange, didn’t rule out the possibility that Solana (SOL) could outperform Ethereum (Ether) in a recent appearance on Kitco:

“It could happen. There is no way it won’t happen.”

Bankman-Fried, one of the crypto billionaires with an estimated net worth of $ 22.5 billion, says Ether could see widespread institutional acceptance even with the underlying blockchain.

At the same time, he turned to concerns about the possibility of Ethereum 2.0 consolidation. While the Ethereum blockchain can significantly increase throughput with the help of sharding, synchronous operation becomes tedious.

Since there would be no native aggregation, DeFi applications have no choice but to migrate to the same shard.

Bankman-Fried also stated that Solana could be disrupted by another competing blockchain.

SOL far outperformed Ether this year and has become the fifth largest cryptocurrency by market capitalization.

SOL / USDT. Source: TradingView

Memes are very important

When asked about the specific criteria people need to consider when choosing a crypto project, Bankman-Fried said investors need to follow meme cycles:

“Memes are important … they drive the market.”

However, Bankman-Fried has warned that stock and coin memes are risky.

Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have made incredible profits this year.

However, the Squid Games (SQUID) scam which stole millions of dollars from owners also reveals the bad side of the crypto joke.

Bankman-Fried urges buyers never to invest more than they are willing to lose:

“No matter what you invest in, it can drop as much as 90%.”

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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