InstaForex

November 26, 2021

“Crypto Meme Is Very Important For The Market” - Founder Of FTX

 Solana (SOL) is still a hot topic among the crypto community.


In a recent interview, FTX co-founder Sam Bankman-Fried claimed it’s not impossible Solana (SOL) will overtake Ethereum’s (ETH) performance.


At the same time, it could be that Solana failed to do so: “It probably will. It may not happen at all. ”


The reason for this figure is that Ethereum’s native tokens will still be in high demand even if the network is no longer relevant one day.


For example the presence of Ethereum 2.0 invites concern because although it is capable of increasing processing capacity through the help of sharding, but consistent operation will pose problems.



While Solana will be distracted by the presence of other more advanced and high -tech blockchains.


Interestingly, Bankman-Fried advises investors to follow the meme cycle: “Memes are so important! They drive the movement of the crypto market. ”


But there is also a warning from him, asking investors to be wary of meme assets because of their high risk.


For example, the Squid Games coin that has snatched thousands of capital, causing many crypto investors to turn a blind eye.


Because of that, Bankman-Fried urges investors not to invest more than they are willing to lose: "It doesn't matter if you invest in anything, it will still decline by up to 90%."