On the 30th of December, Vitalik Buterin, the founder of Ethereum, tweeted in which he showed sympathy for competitor Solana, whose native token SOL and broader ecosystem has been hitting hard since the collapse and bankruptcy filing of FTX, which was once the biggest crypto exchange in the world and now is nothing.
In a tweet, the Ethereum founder wrote that smart people tell him that Solana has an earnest, smart developer community He claimed that the opportunists who were involved with the project in the past had been washed out, and the chain has a bright future. Moreover in the tweet, Vitalik expressed sympathy, saying hard for me to tell from the outside, but I hope the community of Solana gets its fair chance to thrive.
This year 2022 has been the worst one for Solana, as the price of its native token SOL plummeted as much and reached a new two-yearly low. Since the start of this year, the price of SOL has plummeted by more than 90%. SOL is currently on the list of the heaviest losers in value, as its value has been consistently decreasing. Several believe that this huge price loss is due to its association with FTX, as the exchange’s founder & ex-CEO praised SOL and Solana’s broader ecosystem several times.
However, the developers of Solana denied this by claiming that FTX’s collapse did not harm the network itself. This latest tweet from the founder of Ethereum impressed many in the Crypto Twitter community. For example, Ari Paul from BlockTower Capital argued that more crypto companies should follow Vitalik’s lead. Ari said that this is how someone behaves who is happy to ‘compete’ on merit, and believes in positive sum terms.