Prominent VC Firm Picks Top Altcoin for Bull Cycle: Solana (SOL)

• Prominent venture capital firm Placeholder VC reveals its top altcoin pick for this bull cycle, Solana (SOL).
• Chris Burniske, partner at Placeholder VC, says that the bear market was a majorly redistributing event for Solana.
• Burniske believes that Solana has merit as a blockchain, both for users and developers.

Prominent Venture Capital Firm Reveals Its Top Altcoin Pick

A prominent venture capital firm is revealing which altcoin it’s focusing on during the next bull cycle. 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 (SOL).

Redistributing Event During Bear Market

Burniske says 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 states that “last year was a majorly redistributing event for Solana” in order to maximize the benefits of these systems being distributed amongst users.

Ethereum Still Has Core Value

Burniske explains how the firm grew up with Ethereum (ETH) but also wants to help support other ecosystems of merit that have differentiated approaches appealing to different developers building products bringing in various types of users. He emphasizes how Ethereum still has a core place in their beings but wants to diversify their investments into other blockchains.

Solana Trading Price Action

Solana is trading for $24.90 at time of writing with an increase of 7.2% during the last 24 hours.

Conclusion

Placeholder VC is recognizing the potential of SOL as an altcoin and seeing value in investing in it during this bull cycle amid competition from other blockchains like Ethereum (ETH).