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Max Resnick, a renowned ethereum expert, has taken a bold step towards the Solana blockchain. The move follows his departure from Consensys, where he played an important role in advancing the ethereum ecosystem. Given Resnick's strong ties to ethereum and the growing enthusiasm for solariumThis unexpected decision has sparked debate in the cryptocurrency community.
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Resnick wrote a blog post describing his motivation for joining Solana, emphasizing his desire to learn the main components of the protocol, including consensus processes and fee markets. He clarified, “I want to catch up on the implementation details as soon as possible,” adding that his work could open the door for others to eventually help Solana thrive.
<blockquote class="twitter-tweet”>
Last week was my last week at Consensys. Today is my first day in <a target="_blank" href="https://twitter.com/anza_xyz?ref_src=twsrc%5Etfw” rel=”nofollow”>@anza_xyz.
I'm going to take my talents to Solana.
In my first 100 days, I plan to write a specification for as much of the Solana protocol as I can, prioritizing fee markets and consensus implementations where…
-Max Resnick (@MaxResnick1) <a target="_blank" href="https://twitter.com/MaxResnick1/status/1866168109289160842?ref_src=twsrc%5Etfw” rel=”nofollow”>December 9, 2024
Focus on collaboration and innovation
Resnick's decision wasn't solely due to Solana's technology; He also highlighted the important work of Anza, an R&D firm focused on Solana. He applauded Anza's behind-the-scenes efforts, namely his contributions to network improvements.
“Those of you in eth Land may not have heard much from them, but they have been quietly shipping major improvements to the network over the past year,” Resnick noted.
Resnick has not completely abandoned ethereum despite his transformation. Working as a researcher at Consensys, he will continue to provide advice and support. Resnick's dual role suggests that his goal is to cross-reference knowledge between two major blockchain environments, thereby benefiting both communities over time.
Solana Price Boost
Positive sentiment has helped Solana's market performance progressively improve. SOL is up 5.9%, to $225 within the last 24 hours. The altcoin has risen sharply since early November, surpassing crucial resistance levels. SOL's value has risen 215% over the past year, suggesting increased investor confidence.
The slow price increase suggests a stronger technical structure and greater market usage. Analysts predict Solana's momentum will continue, especially with well-known people like Resnick on its development team.
<blockquote class="twitter-tweet”>
<a target="_blank" href="https://twitter.com/hashtag/Solana?src=hash&ref_src=twsrc%5Etfw” rel=”nofollow”>#solarium <a target="_blank" href="https://twitter.com/search?q=%24SOL&src=ctag&ref_src=twsrc%5Etfw” rel=”nofollow”>$SOL It'll reach $4,000, based on this cup and handle pattern! pic.twitter.com/dXZLI9urOh
—Ali (@ali_charts) <a target="_blank" href="https://twitter.com/ali_charts/status/1866610535971819992?ref_src=twsrc%5Etfw” rel=”nofollow”>December 10, 2024
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Different price forecasts
Still, forecasts for Solana's final price vary widely. Inspired by the “cup and handle” chart pattern shown on the monthly charts, crypto analyst Ali Martinez believes SOL could reach $4,000. This bullish framework suggests that a break above $260 would trigger an exponential rise.
On the other hand, Bitwise asset management has marked a <a target="_blank" href="https://s3.us-east-1.amazonaws.com/static.bitwiseinvestments.com/Research/Bitwise-The-Year-Ahead-10-crypto-Predictions-for-2025.pdf” target=”_blank” rel=”nofollow”>more conservative price target of $750, citing macroeconomic variables and broader market patterns. These divergent expectations illustrate the unpredictability in the world of cryptocurrencies, where optimism and caution often coexist.
Featured image from Medium, chart from TradingView
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