One of Solana’s (SOL) core developers has just left the project to start a new platform called Unto Labs and a new L1 chain. 🚀 The developer, who goes by the pseudonym Cantelopepeel, plans to build a high-performance L1 chain from scratch. 💻 He predicts that there will be significant user growth for the high-performance chain by 2025. 📈 This decision comes after Ethereum developer Eric Conner also left the Ethereum Foundation due to differences of opinion.
Cantelopepeel wants to create a new L1 chain with its own virtual machine and consensus mechanism. 🔄 He expects an environment with tens of millions of active wallets every day, while Solana currently has around 5 million active wallets. 💼
Meanwhile, the Firedancer update for Solana is still in testing and there is no firm deadline for its launch. ⏳ Firedancer is expected to handle up to 1 million transactions per second and is expected to be a trigger for SOL’s price increase. 📊 However, there are concerns about the 11.2 million SOL that will be unlocked in March, which could affect the market. 😬
Recent meme tokens suggest that Solana could grow further to accommodate peak DEX volumes, despite the network being under heavy pressure. 💥 SOL price briefly stalled above $272, but managed to rally back above $270.12 thanks to high DEX activity. 💰