The price of popular altcoin Solana is on its way to a major rebound as the bearish trend in the crypto market reverses. On the other hand, FTX stock market founder Sam Bankman-Fried is fueling a bullish story among investors. Analysts believe the Solana price has bullish potential, while the Ethereum killer predicts a rally in this altcoin.
The altcoin known as the ETH killer may soon be on the rise
According to market experts, the Solana price may rise with Sam Bankman-Fried’s plans for the altcoin. Many analysts who think that there is a bullish potential in Solana also state that they foresee a rally in the altcoin project. In addition, Tesla CEO Elon Musk’s offer to buy Twitter completely was received negatively by many in the crypto community.
Many famous names in the crypto market, from Charles Hoskinson, the founder of Cardano, to Sam Bankman-Fried, the founder of the FTX exchange, will replace Twitter or centralize it to elevate it. It proposes the development of a non-existent social media platform. Proposing a new idea in this regard, Sam Bankman-Fried detailed the possibilities of working on Twitter’s popular altcoin Solana Blockchain. Bankman-Fried’s statements on the subject are as follows:
Tweets are chained, encrypted; the sender chooses who can access them (that is, who can decrypt them). In a sense, this combines DMs and tweets – DMs are just tweets with the “Jill only” privacy setting.”
According to Bankman-Fried, what should Twitter’s new order look like?
According to the suggestion of the founder of the famous crypto exchange, Twitter’s revenue generation can be replenished by charging users for each tweet they send along with advertisements on the platform. Users can create their own Twitter interfaces and monetize it. Fans believe that the launch of Twitter on Solana could increase the adoption and value of the altcoin project.
Analysts, evaluating the Solana price trend, explain that they predict a rally in the altcoin project. Crypto analyst, known as Altcoin Sherpa, whose predictions we often refer to as Kriptokoin.com, believes that the Solana price can reach $110-115 before forming a higher bottom. If the price breaks this level, the analyst, considering it bullish, is currently waiting for the SOL to retrace its higher level.
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