A well-known venture capital firm has announced its focus on a particular altcoin in preparation for the upcoming bull market, stating that it is the time to do so.

Chris Burniske addresses the issue

Chris Burniske, a partner at Placeholder VC, revealed in a recent interview on the Unchained Podcast with host Laura Shin that they are now concentrating on building up and supporting Solana (SOL), just as they did with Ethereum (ETH) during 2018-2019.

Burniske also mentioned that those who previously criticized SOL due to the FTX scandal last year can now take comfort in knowing that many of the questionable projects built on top of Solana have been eliminated from its ecosystem.

According to the notes, back in 2018-19, they invested in Ethereum and it turned out well for us. Now, in this bear market, they said that they are doing the same thing with SOL.

The main concern is centralization, as they have been involved in crypto for a long time and want the benefits of these systems to be widely distributed.

They believe that last year was a significant event for Solana in terms of redistribution.

If you had negative feelings towards Solana due to FTX, Sam Bankman-Fried, or the low-float shenanigans surrounding some of the tokens launched on the platform, they stated that they understand.

However, they believe that those issues have been addressed and those predatory tokens are now irrelevant or down 99.9%.

Burniske, a former ARK Invest analyst, says that even though the firm blossomed from investing in Bitcoin (BTC) and ETH, it’s now looking to support other ecosystem’s growth, including Solana, which he says has merit as a blockchain, both for users and developers.

Stay tuned for more news and make sure to check out the crypto markets as well. There are really good things coming ahead according to the latest predictions.

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