Veteran traders in the cryptocurrency space believe that a single Layer 1 blockchain project offers opportunities similar to what Ethereum (ETH) did four or five years ago.
In a new interview with Bankless, Chris Burniske, partner at venture capital firm Placeholder, argues that Solana (SOL) is currently undervalued and has ETH-like potential as an investment.
trader says,
“If there is a lot of controversy and you have to pick an ecosystem to pay attention to, and that controversy is underrated, I think it would be Solana. You tend to pick one and build your carrier strategy around that ecosystem. [market], it was ETH and Bitcoin. Because they were the only ones with enough scale and liquidity to actually justify it.
And what does an aircraft carrier mean? You can actually find out if In time, loan or DEX [decentralized exchanges] Or asset management, etc. And you can choose the best of the teams that speaks to you the most from a venture perspective. “
Burniske, who was recently highlighted as one of the traders who bottomed out in the recent crypto market in November, said the three most exciting ecosystems in terms of user adoption and growth are Ethereum, Cosmos (ATOM) and Solana. claims to be.
However, traders note that Solana’s “at venture stage” valuation is much lower than Ethereum and Cosmos.
Solana’s valuation is exactly the same as Ethereum’s in 2018 and 2019, he says.
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