One of Ethereum’s Biggest Rivals Gearing Up To Outperform ETH, According to Former ARK Invest Crypto Analyst – Crypto News – Crypto News
Connect with us
One of Ethereum’s Biggest Rivals Gearing Up To Outperform ETH, According to Former ARK Invest Crypto Analyst One of Ethereum’s Biggest Rivals Gearing Up To Outperform ETH, According to Former ARK Invest Crypto Analyst

others

One of Ethereum’s Biggest Rivals Gearing Up To Outperform ETH, According to Former ARK Invest Crypto Analyst – Crypto News

Published

2 years ago

on

Crypto investor and venture capitalist Chris Burniske says that Solana (SOL) is poised to start outrunning Ethereum (ETH) in a new trend formation.

Sharing a chart posted by on-chain analyst Will Clemente, Burniske shows Solana versus Ethereum (SOL/ETH) putting in a series of higher lows and higher highs in a potential shift in long-term momentum.

“If you’ve been paying attention, you see the obvious; if you’ve become tribally attached to your exclusive team, you’ll continue with willful ignorance.”

Source: Will Clemente/X

Burniske, who has long been optimistic on Solana, says he has been bullish on SOL for the “entire bottom range” of its price action over the past year or so.

The former crypto analyst for Cathie Wood’s ARK Invest also says that many developers understandably prefer to stay within the Ethereum ecosystem since that’s what they’re already comfortable with.

However, Burniske, who’s the co-founder of venture capital firm Placeholder, says that investors should take a different stance on SOL.

“If you’re a builder I understand the desire to stick with Ethereum and continue to believe Ethereum’s future is bright (Placeholder continues investing in it). If you’re an investor, not adding some SOL exposure to an existing ETH holding requires lots of mental gymnastics.”

Burniske goes on to say that just like there was a time when Bitcoin (BTC) bulls believed the entire crypto ecosystem would operate on their preferred network, Ethereum enthusiasts may also be caught off guard when Solana takes a large portion of value capture.

“Saw the same thing play out with Bitcoiners, that I’m seeing with some Ethereans now.

The rallying cry is the same:

‘Everything will be built on Bitcoin!’

‘Everything will be built on Ethereum!’

‘BTC will capture all value!’

‘ETH will capture all value!’

Flat circle.”

At time of writing, Solana is trading for $24, up over 13% in the last 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending