Original Author: Placeholder Partner Chris Burniske
Translation｜Odaily Planet Daily (@OdailyChina)
Editor’s Note:
On December 30, 2022, Solana hit its darkest moment, with SOL dropping to $8, the lowest price following the FTX collapse. On that day, Chris Burniske, former head of crypto at Ark Invest and now a partner at Placeholder VC, published a “bullish post” on X, openly calling for a bullish stance on SOL and stating he would continue to increase his position. The subsequent story is well-known; SOL skyrocketed and recently surpassed $240, showing a strong trend towards new highs.
Fast forward to November 2024, Ethereum has gradually fallen into a low tide due to narrative bottlenecks and various other reasons. On November 17, Burniske published a similar “bullish post” again, publicly supporting Ethereum and predicting that the chain would achieve a revival in the coming years.
The following is the original content by Burniske, translated by Odaily Planet Daily.
One of the reasons Placeholder has consistently focused on Solana during the last bear market is the belief that it will become the mainstream blockchain for ordinary users, due to its advantages in speed, lower fees, and smoother transactions. This is being reflected through the meme token craze.
However, we have always been supporters of Ethereum, and that has never changed.
In the new cycle, although Ethereum may have lost some of its market share aimed at ordinary users to Solana (which has already happened), the Ethereum community should continue to work hard to solidify the network's position as the center of the Internet Financial System (IFS). The IFS will become increasingly important between 2025 and 2030, attracting more users than we currently see.
Solana and other blockchains will also compete with Ethereum in the IFS space (which is already happening), but Ethereum still has a solid foundation; it has been around for over a decade, has brand recognition second only to Bitcoin, and possesses deep liquidity, allowing enterprises to build their own Layer 2 solutions around Ethereum, like Base.
Although everyone knows that the Layer 2 architecture has liquidity fragmentation issues (which will be resolved), it is well-suited for traditional financial enterprises because it allows for better control and direct conversion of profits into earnings. Other blockchains like Avalanche have also been focusing on this, adopting similar subnet architectures and concentrating on the IFS space.
In recent Ethereum community events, I have been excited about the discussions surrounding Ethereum.
The community is learning lessons. During the bull market from 2018 to 2021, I believe the Bitcoin community fell into complacency, thinking they had succeeded and held the advantage. Around 2021, BTC seemed a bit “outdated,” even being mocked as a “baby boomer token,” which sparked a revival, and this is part of the reason Bitcoin has risen again in this cycle.
Similarly, I believe some members of the Ethereum community fell into the same complacency trap from 2022 to now, but now that Ethereum is being questioned as a laggard, many parts of the Ethereum ecosystem are about to be revitalized.
Just like the revival Bitcoin experienced, we may see Ethereum undergo a similar revival in the coming years, driven by competitive self-reflection.
The evolution of mainstream blockchains is an extremely long game—anyone who prematurely thinks they have won the war will fall into complacency and ultimately lose everything. We look forward to seeing how the status of Bitcoin, Ethereum, and Solana will evolve by 2030 and beyond.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
