Could Solana’s Price Explode? SOL Founder Yakovenko’s Bitcoin Connection Sparks Speculation
Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...
The Solana price has fallen to $131.74 on a bad day for the cryptocurrency market as a whole, with the alt now down by 3.5% in 24 hours and by 5.5% in the last 30 days.
September – and the end of August – have been disappointing for SOL, although the alt still holds on to a very healthy 580% increase in the past year.
And today’s misstep comes after Solana co-founder Anatoly Yakovenko caused a stir by describing Solana not only as a Bitcoin layer-two network, but as one “endorsed” by Satoshi Nakamoto.
While such claims are certainly open for dispute, it remains the case that Solana has become one of the main networks within the crypto ecosystem, and is like to stay that way for some time to come.
It’s easy to read too much into Yakovenko’s comment, but it does at least underline his confidence that Solana has secured an important position for itself within crypto.
Solana is a bitcoin L2 endorsed but not backed by Satoshi. She just did a much better job covering her tracks this time around.
Taken literally, the tweet above would suggest that Nakamoto has gone on record as saying something positive about Solana, although the latter launched in early 2020, some nine years after the pseudonymous Bitcoin creator posted their last confirmed message.
We should therefore view Yakovenko’s comment in a more figurative light, as a claim that Solana provides an ‘indirect’ layer-two for value that may originate from Bitcoin.
More generally, it can be taken as a claim that Solana is the biggest and most promising smart contract platform in the
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