Over the years, crypto markets have remained highly volatile, and the value of any digital asset can swing upwards or downwards within a short period. However, investing in cryptocurrencies could lead to losing a significant amount of money in a glimpse.
With the year 2022 over, Solana (SOL) ranks among the industry’s largest losers, according to multiple on-chain data. Based on its year-to-date (YTD) price value, SOL has lost approximately 95% of its value. Nevertheless, the former crypto boss at ARK Invest Management (Chris Burniske) remains confident about the long-term prospects of this asset.
Burniske expressed his longing for SOL as many mock the crypto asset over its continued downtrend. In addition, he stated that SOL’s price would rise in the near term, and many people would regret not investing in it at its current price.
According to current Coingecko data, SOL has gained about 12% in the last 24 hours and trades at $11.12.
Could Vitalik Assist Solana?
Meanwhile, ARK Invest’s former head of crypto further said that Vitalik Buterin, the Ethereum co-founder asked him for clarification regarding the recent Solana Blockchain crisis. Burniske explained that the Solana network has one of the best advocates committed to bringing to reality the network’s appealing feature of innovation independence.
He added that Solana’s validators’ community is insanely committed, similar to what’s obtainable in the Ethereum and Cosmos networks. In Burniske’s view, these dApp builders have a mix of Web2 and Web3 experience, which indicates that they are familiar with the network’s backend protocol.
In the meantime, the developers need to put in more effort to create front-end projects that solve the needs of many people. According to reports, Buterin remains optimistic about the future of Solana and its native token despite the recent crisis.
According to him, the Solana Blockchain has a promising future. As to whether the community is thriving, he noted that he couldn’t tell from the outside, but he hopes that it has a fair chance to do so.