According to FTX CEO Sam Bankman-Fried, the most undervalued crypto is a leading competitor to Ethereum
The chief executive officer of the cryptocurrency trading company FTX has chosen the most undervalued cryptocurrency.
In a recent interview with Fortune, crypto entrepreneur Sam Bankman-Fried asserts that Ethereum (ETH) rival Solana (SOL) is the most neglected digital asset, despite its recent troubles.
“The most underestimated token now… In some way, I believe the answer is Solana. I think it was somewhat deserving of it since it had a great deal of negative publicity in a short amount of time.
It had much technological ground to cover, but I believe it has already covered two-thirds of that. I think it will pass the last third, and what people are missing about [Solana] is that when you try the boundaries of what is possible, you discover what breaks. Any blockchain that attempted to achieve what Solana did would have failed.
This allowed it to determine what required refinement and what required improvement. It would have been a lot better if problems were fixed sooner… “However, to evolve, blockchains must fundamentally test their limits and see what fails.” However, the CEO emphasises that his opinions on Solana are only his and not financial advice.
The Solana ecosystem was recently attacked for $8 million when malicious actors accessed mobile cryptocurrency wallets related to the blockchain. At the time of writing, SOL is trading for $40.39, a 2.08 percent increase on the day.