Anatoly Yakovenko, founder of Solana, is making a prediction for the cryptocurrency market for the next 12 to 18 months.
In a new interview on the Bankless podcast, Yakovenko explain While there may be challenging macroeconomic conditions ahead of us, this will not stop an unprecedented wave of innovation from hitting the cryptocurrency space.
Yakovenko warned that if the Federal Reserve (Fed) continues to raise interest rates to lower inflation, it could push investment away from less formal blockchain projects like rival ethereum (ETH). ) is Solana.
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“I think this is a big question for every smart contract platform except Ethereum: Are we in a high interest rate environment for the next 5 years where all riskier bets are down and unattractive?
This means that without Ethereum, Solana wouldn’t do anything useful to the world, even though Solana was 100x faster or executed more transactions than all Ethereum layer 2 combined. In that environment, they wouldn’t provide enough value to the world, so it wouldn’t exist. What is cryptocurrency doing now that is so important to the world that it cannot survive without it?
Still, Yakovenko said he was optimistic about Solana’s future. Even in a downturn, the market share of NFT projects on Solana will generate enough value to sustain the project.
“It’s like if I’m wearing the worst hat but things go wrong and the interest rate is 10%, will the NFT Web3 business model survive? I think so. If that’s true, I think Solana is alive on.”
Yakovenko predicts that innovation in the crypto space will grow at an unprecedented rate, helping the industry successfully navigate through difficult economic times.
“I feel much more optimistic now than I was in 2018, 2019. There is still a lot of money going on in the crypto space. There are a lot of bright young people who are not joining big companies or creating great products.
My guess is that if you look at all the product launches that happen in the next 12 to 18 months from when the cryptocurrency goes live, the next 12 to 18 months are probably going to be a lot longer than that. All the other factors add up to this. If people launch a product, they will bring the product to market, they will attract users, and that means cryptocurrencies will survive. “
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