The FTX Founder Explained: What Coin Cycles Determine the Cryptocurrency Ecosystem?


FTX co-founder Sam Bankman-Fried in his recent statements, he touched on the comparison of Solana (LEFT) and Ethereum (ETH). In addition, Bankman-Fried also noted that meme cycles may be the most important investment strategies of cryptocurrencies.

Solana and Ethereum

Bankman-Fried, Solanain his comments about whether Ethereum can surpass Ethereum, he said that there is a possibility that this will happen, and there is a possibility that it may not happen at all. In addition, the crypto billionaire, even if the basic blockchain does not achieve the same success Ethereumhe expressed that he thinks that the local crypto currency ETH can be widely accepted.

At the same time, the FTX founder also draws attention to various concerns surrounding Ethereum 2.0. According to him, the second largest blockchain will be able to significantly increase its production capacity with the help of sharding, while simultaneous transactions will become a problem.

In addition, Bankman-Fried october that Solana can be surpassed by another competing blockchain. At this point, Solana has far outperformed Ethereum this year, making it the fifth largest in terms of market capitalization crypto currency it is also worth noting that he settled in his position.

“Meme Coins are Important”

When asked about the criteria that people should look at when choosing a particular cryptocurrency project, Bankman-Fried said that investors should follow their meme cycles:

Memes are very important… they lead the market.

However, the crypto boss, whose net worth is estimated at $ 22.5 billion, joke cryptocurrencieshe also warned viewers that it involves very big risks.

While joke coins such as Dogecoin and Shiba Inu have performed well this year, delighting its investor Squid Games we have witnessed that crypto currencies such as have caused very serious losses.

At this point, Sam Bankman-Fried urged investors to invest with sums that they would not have to change their lives if they lost, and “No matter what you invest in, it can actually fall by 90%.” he used his words.

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