Vitalik Buterin expressed support for Solana blockchain, which is going through a difficult time after the collapse of cryptocurrency exchange FTX. The situation with the FTX exchange provoked a serious drop in SOL, which fell below $10 for the first time in two years, causing the coin to fall to 17th place in terms of market capitalization. Several platforms are planning to switch from Solana to alternative blockchains, so the sentiment about the future prospects of this network is rather pessimistic. For example, Ben Armstrong, owner of YouTube channel Bitboy Crypto, thinks that more projects will leave Solana in the future. However, not all members of the crypto community are so categorical. Vitalik Buterin, the co-founder of Ethereum, expressed support for the developers of Solana, despite the fact that it is a competing blockchain. Buterin wrote that it is difficult for him to give an outside assessment, but he still wished the Solana developers success. Many bought SOL in the hope of making a quick financial profit without caring about the value of the technology itself. With those investors gone, it’s time for those who truly appreciate the potential of blockchain to prove themselves, Buterin believes.
Buterin tweeted. In early November, Solana co-founder Anatoly Yakovenko said that the project team would focus on improving the stability of the network in order to solve the increasing problems with its outages. Yakovenko had earlier refuted claims that Solana’s blockchain is an “Etherium killer,” as the networks can complement each other.