Once hyped SOL at 8 dollars! The pro started to advocate Ethercoin, is it going to To The Moon?

Editor's note: On December 30, 2022, Solana fell to a low of $8, the darkest moment since the FTX crash. On that day, Chris Burniske, former head of Ark Invest encryption and current partner at Placeholder VC, publicly expressed bullish sentiment on $SOL and stated that he would continue to increase the position. The rest of the story is well known, with $SOL soaring all the way, recently breaking through $240 and showing a trend of setting new highs.

Image Source: "TechFlow in the Deep Tide"

By November 2024, due to various reasons such as narrative bottlenecks, Ethereum gradually fell into a low ebb. Burniske once again released a similar 'milk article' on November 17, publicly supporting Ethereum and predicting that the chain will revive in the next few years. The following is the original content of Burniske, translated by Odaily Star Daily.

In the last round of Bear Market, one of the reasons Placeholder has always followed Solana is because they believe it will become a mainstream blockchain for ordinary users, as it has advantages in user experience such as faster speed, lower fees, and smoother transactions. This is being reflected through the meme Token craze, etc.

But we have been supporters of Ethereum from start to finish, and this has never changed.

In the new cycle, although Ethereum may lose some market share to Solana (already happened), the Ethereum community should continue to work to consolidate the network's position as the center of the Internet financial system (IFS). IFS will become increasingly important between 2025 and 2030, attracting more users to get on board than we currently see.

Solana and other blockchains will also compete with Ethereum in the IFS industry (currently happening), but Ethereum still has a solid foundation. It has been around for more than a decade, with brand awareness second only to Bitcoin, and has deep Liquidity. Enterprises can also build their own Layer 2 around Ethereum, just like Base.

Despite the fact that everyone knows that Layer 2 architecture has the problem of Liquidity fragmentation (which will be solved), it is very suitable for TradFi enterprises because it allows enterprises to achieve better control and directly convert profits into revenue. Other blockchains like Avalanche have also been following this point, adopting similar subnet architectures and focusing on the IFS industry.

I am excited about the discussions surrounding Ethereum in recent Ethereum community activities.

The community is learning its lesson. In the 2018-2021 bull market, it seems to me that the BTC community had become complacent, thinking that they had achieved success and occupied a dominant position. Around 2021, BTC seemed a bit 'outdated,' and was even ridiculed as a 'baby boomer Token,' sparking a revival, which is also part of the reason for BTC's resurgence in this cycle.

Similarly, in my opinion, some members of the Ethereum community have also fallen into the same complacency trap from 2022 to now, but now Ethereum is being questioned as a laggard, and many parts of the Ethereum ecosystem are about to be revitalized.

Just as Bitcoin experienced a renaissance, we may see Ethereum undergo a similar revival in the coming years, driven by competition-induced self-reflection.

The evolution of mainstream blockchain is an extremely long game - anyone who thinks they have won the war too early will fall into complacency and eventually lose everything. We look forward to seeing how the status of Bitcoin, Ethereum, and Solana will evolve in 2030 and beyond.

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Investing based on this is at your own risk.

This article is authorized to be reproduced from: 'Shen Chao TechFlow'

Original author: Chris Burniske, Placeholder

Compiled by Azuma, Odaily Planet Daily

'Once praised wildly at SOL 8, now the pro is advocating for Ethercoin. Is brother2 going to To The Moon? ' This article was first published in 'Encryption City'.