Solana has been on the radar of the crypto community recently amid a strong rally to $25 over the past two days. With Solana coming into the limelight and becoming the seventh-largest crypto by market cap, the Ethereum community members have started poking the Ethereum Layer-1 competitor.
Ethereum community member jebus.eth called Solana, akin to the Democratic Party of crypto. “Coallition of poors and wealthy ppl who don’t understand where value actually comes from or how to create it, just that the things I want should be cheap,” he wrote.
Solana Co-founder Responds
Solana co-founder Anatoly Yakovenko was quick to respond to this! In his response, Yakovenko noted: “In the grand theatre of economic transformation, Ethereum presents itself not as a harbinger of genuine revolution, but merely as a novel spectacle of bourgeois upheaval”.
He further expressed that while some revel in this digital era, the underlying oppression persists, albeit with different manifestations. It continues to exert pressure on the working masses, albeit through alternative means.
Yakovenko emphasized the pursuit of an entirely stateless digital realm, where unhindered communication and transactions flow freely among the people, liberated from the control of capitalist middlemen and government surveillance.
In this vision, the cost of establishing a governing body should be insignificant, akin to the accessibility and ubiquity of air. Only when digital creation becomes as accessible and affordable as a basic necessity can we usher in a genuinely decentralized and stateless digital domain, leaving behind the shadows of Ethereum’s subtle digital control.
Solana on Investors’ Radar
As said, amid the solid price surge to $25 over the past weekend, Solana has been on investor’s radar. As of press time, SOL is trading 2% down at a price of $23.61 with a market cap of $9.7 billion.
For the Solana price to reach $30, it first needs to give a convincing breakout above $25, which acts as a strong resistance. If SOL fails to break past $25, then it can see further downside to $20. Thus, it will be interesting to see whether the bulls can hold on to the rally.
