According to the latest reports, it has been revealed that a widely-followed analyst offers a bullish outlook on the blockchain development of the Ethereum (ETH) competitor Solana (SOL). Check out the latest news about this below.
Ethereum competitor Solana expects bulls
In a new interview with Paul Barron, the pseudonymous host of InvestAnswers made sure to state the fact that the Solana ecosystem is undergoing impressive upgrades.
“What amazed me about Solana early on – we’re talking 25, 26 months ago – was I was looking for an ETH killer to protect my ETH position. If there was something coming for it, I needed to be on it. But the type of developments that they have done over those last 26 months – mind-blowing, absolutely crazy.”
He also said the fact that the improvements to the blockchain project, like Jump Crypto’s open-source validator client Firedancer would boost scalability and network processing times.
“But what’s really intriguing to me is this, is how they’re going to scale as they go forward with Firedancer and they have a thing called side-scaling and this basically will change exactly how they go forward.”
He said the following as well:
“Firedancer is a Solana validator developed by Jump Crypto and it aims to significantly enhance Solana scalability and most importantly, what people don’t focus on, is reduce latency times down to essentially milliseconds. This will pose a huge threat to many other things…”
A well-known crypto trader who has maintained a negative outlook on the digital asset markets this year is reinforcing his predictions by increasing his short position on a major token.
Going by the name Capo, this trader is informing his 64,703 Telegram followers that he is expanding his existing short position on Polygon (MATIC), which is a scaling solution for Ethereum (ETH).
At the moment of writing, MATIC is being traded at approximately $0.903.
As the 11th largest cryptocurrency in terms of market capitalization, it has experienced a 0.55% decrease in value within the last 24 hours.
