The CEO of cryptocurrency exchange FTX says he has identified the most undervalued crypto asset.
In a new interview with Fortune, crypto billionaire Sam Bankman-Fried says Ethereum (ETH) challenger Solana (SOL) is the most overlooked digital asset, despite its recent struggles.
“The most underrated token right now… I think the answer in a way is Solana. Basically because I think it got a lot of bad PR in a short period of time, I think it kind of deserved it to be fair.
Technologically, he had a lot of… work to do, but I think he’s already worked on two-thirds of it. I think the other third will pass, and what people are missing [Solana] it’s that every time you test the limits of what’s possible, that’s when you understand what breaks. Any blockchain would be broken if it tried to do what Solana did.
This was a way for him to understand what needed to be improved and what needed to be improved. I wish the issues had been resolved earlier, that would have been much better… But a fundamental thing to push the boundaries and see what breaks is what blockchains should be trying to do right now to grow.”
However, the CEO notes that his views on Solana are simply his own and should not be construed as investment advice.
Recently, the Solana ecosystem was hacked to the tune of $8 million after bad actors exploited blockchain-related mobile crypto wallets.
SOL is changing hands for $40.39 at the time of writing, a gain of 2.08% on the day.
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