Solana’s surge to $25 prompts Ethereum comparisons; co-founder envisions a stateless, decentralized digital realm.
Recently, Solana has been on the crypto community’s radar due to a significant rally to $25 over the past two days. With Solana gaining prominence and becoming the seventh-largest cryptocurrency by market capitalization, Ethereum community members have begun to poke the Ethereum Layer-1 competitor.
A member of the Ethereum community, Jebus. Eth referred to Solana as the Democratic Party of cryptocurrencies. “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,” he wrote.
Solana’s Co-founder Reacts
Anatoly Yakovenko, co-founder of Solana, responded quickly to this! In his response, Yakovenko remarked:
“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”.
He added that although some enjoy the digital age, oppression persists, albeit in different manifestations. It continues to exert pressure on the working class, albeit by other means.
Yakovenko emphasized the pursuit of a completely stateless digital domain in which unrestricted communication and transactions flow freely among the people, unfettered by capitalist intermediaries and government surveillance.
In this vision, the cost of establishing a governing body should be negligible, comparable to the availability and pervasiveness of oxygen. Only when digital creation becomes as accessible and affordable as a fundamental need will we be able to usher in a truly decentralized and stateless digital domain, eschewing Ethereum’s subtle digital control.
Solana on Investors’ Radar
As stated, Solana has been on the radar of investors in light of the recent price increase to $25. As of press time, SOL is trading 2% lower at $23.61 and has a market capitalization of $9.7 billion.
For the price of Solana to reach $30, it must first demonstrate a convincing breakthrough above $25, which represents strong resistance. If SOL fails to surpass $25, the share price could decline to $20. Consequently, it will be intriguing to observe whether the bulls can sustain the rally.
