Cardano ($ADA) Founder Heaps Praises For Solana ($SOL), Here’s Why

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Charles Hoskinson, the founder of Cardano ($ADA) blockchain is in awe of Solana’s ($SOL) progress as he lauded them for their success. He also wanted to learn more about the project and asked where he can get the necessary information. $SOL became the first altcoin post-May crash to hit a new ATH reaching and continues to post new ATHs every other day.

Solana co-founder Raj Gokal responded to Hoskinson suggesting his DMs are open for any query Hoskinson has. The conversation between the two is fascinating to many given both are often categorized as “Ethereum Killer” by their proponent.

$SOL broke past the $100 mark earlier today setting a new ATH of $101.8 and currently trading at $98.4. The altcoin is up 33% in the past week and has nearly tripled its price since the start of August. It has closed seven consecutive weekly candles in the past two months, indicating the bullish momentum that built over time.

Source: TradingView

Solana, a decentralized programmable blockchain claims to be one of the fastest-growing crypto ecosystems with nearly 400 projects on the platform spanning across Defi and NFT.

The Probable Reasons Behind Hoskinson’s Keen Interest

Hoskinson’s keen interest in the project could also be because of the upcoming Alonzo upgrade on Cardano scheduled for September 12 that would integrate smart contract support. This would enable Cardano to support Dapps and NFT projects, something Solana is currently doing and with great success given it is comparatively a new blockchain.

$ADA also broke past its previous ATH of $2.47 as the key upgrade date nears. The altcoin is currently trading at $2.83, moving sideways after facing rejection at $3 after posting an ATH of $2.97. The hype around the upgrade is quite high as evident from social media mentions for the altcoin which reached the highest of 25% last week.

Source: TradingView

Hoskinson might take a cue from the rapid growth and success of Solana as Cardano enters a new era of competition. While Ethereum is too big at the moment for new projects to dethrone it or come near it, but its vastness has led to scalability issues, making way for smaller blockchains to fill in.

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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