• A prominent venture capital firm is revealing its number one altcoin pick for the upcoming bull cycle, Solana (SOL).
• The firm’s partner Chris Burniske says that investors should be glad that many questionable projects built on top of Solana have been purged from its ecosystem.
• According to Burniske, Solana has merit as a blockchain both for users and developers.
Venture Capital Firm Reveals Number One Altcoin Pick
A prominent venture capital firm is revealing which altcoin it’s focusing on during the next bull cycle – Solana (SOL). In a new interview on the Unchained Podcast, Chris Burniske, partner at Placeholder VC tells host Laura Shin that they are now focusing on accumulating and supporting Solana.
Investors Should Be Glad About Purged Projects
Burniske says that investors critical of SOL due to last year’s FTX debacle can now be glad that many questionable projects built on top of Solana have been purged from its ecosystem. He comments “If you hated Solana because of FTX or because of Sam [Bankman-Fried] or because of some of the low-float shenanigans, which I agree were deplorable, around some of the tokens launched on top of Solana, then you should be happy that those things got washed out…”
Solana Has Merit As a Blockchain
Burniske states that even though the firm blossomed from investing in Bitcoin (BTC) and Ethereum (ETH), they also want to help support other ecosystems such as Solana which he believes has merit as a blockchain both for users and developers. He goes on to say “I would say that Ethereum [is] still has a very core place in our beings, but we also want to help support other ecosystems of merit…and so to us, Solana has merit in that regard.”
Current Price Of SOL
At time of writing, SOL is trading for $24.90 – an increase by 7.2% over the previous 24 hours.
Conclusion
The venture capital firm Placeholder VC is recommending investors put their money into SOL during this bull cycle due to its potential as a blockchain platform with merits both for users and developers alike.