Vitalik Buterin: Solana Has A Bright Future

Ethereum founder Vitalik Buterin supports Solana. (Photo; Doc. Coin Kolik)

JAKARTA - After facing shocks due to the bankruptcy of FTX, the Solana (SOL) cryptocurrency is said to have a bright future. As is known, the price of SOL slipped below 10 US dollars per coin.

It was the founder of Ethereum Vitalik Buterin who delivered the above statement. Buterin himself is optimistic about Solana's future even though the cryptocurrency is thrown from the top 20 cryptocurrencies based on its capital market.

Furthermore, the founder of Ethereum provided his support for Solana through his recent Twitter post. According to him, Solana's network could develop after being affected by the bankruptcy of FTX last November.

Some smart people told me that there is a truly smart developer community in Solana, and now that people with terrible opportunistic money have been washed, this chain has a bright future. It's hard for me to say from the outside, but I hope this community has a fair opportunity to thrive," Vitalik Buterin said.

Matrixport Delisting Solana

Solana's decline was also caused by another factor, namely the elimination of SOL trading at the Matrixport crypto exchange. The company decided to remove Solana and Solana-U from its trading platform.

In addition, a number of other projects have also decided to leave the Solana network as did the NFT DeGods and y00ts projects. Lifting the legs of a number of these projects is not without reason. The reason is, the network had experienced blackouts over the past year as reported by Coingape.

The NFT project DeGods decided to switch to the Ethereum network. While y00ts to the Polygon network. This indicates a reduced consumer confidence in the Solana ecosystem.

However, Solana founder Anatoly Yakovenko explained that his party was not focused on SOL price performance. Yakovenko noted the importance of focusing on "technology and making people build something extraordinary that is decentralized."

Furthermore, the Solana creator revealed that only 4 percent of all projects built on the Solana network had exposure to FTX. While 80 percent of other projects have absolutely no exposure to the bankrupt crypto exchange.