Solana creator and co-founder Anatoly Yakovenko has detailed his crypto predictions for the next 12-18 months. On the occasion of his interview, he said that a wave of innovations could hit the crypto-sphere. He thus remains quite optimistic about the future of crypto, in particular Solana. However, the evolution of this sector will depend on the increase in interest rates.
Will Ethereum competitors survive?
Anatoly Yakovenko had the opportunity to formulate his crypto predictions during a new interview with Bankless. He pointed to the assumption of an increase in interest rates from the Fed, to reduce inflation. According to him, this could make less established blockchain projects, like Solana, less attractive to investors.
He said this is a relevant question for all smart contract platforms except Ethereum:
Are we going to be in a high interest rate environment for the next five years, where all the riskiest bets are cut and there is no traction?
In other words, even if Solana is 100 times faster than Ethereum, it will not be as useful as its rival. This implies that this kind of crypto is not going to survive in this environment unless it brings enough value and utility to the world.
Yakovenko remains optimistic about Solana’s future
Mr Yakovenko nevertheless says he is optimistic about Solana’s future. Despite the economic downturn, Solana’s market share in NFT projects would create enough value to sustain the project. He said that even if everything escalates and interest rates are at 10%, Web3 NFT’s business model will survive, Solana will survive. He predicts that innovation in the crypto-sphere will explode at an unprecedented rate. This will help this sector to resist in the face of turbulent economic times.
He finally pointed out that there is still so much funding in crypto projects. Products launching in the next 12-18 months will likely be far more than everything else combined since the crypto’s inception. This industry will survive if creators rectify the product-market fit and they will have users, he said.
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