Solana (SOL) Founder Warns Small Altcoins: "Rehearse for the Collapse"

Anatoly Yakovenko, co-founder of Solana Labs, made an important recommendation to the founders of cryptocurrency projects in a statement on social media.

Yakovenko stated that it is necessary to be prepared for potential sharp market declines and that conducting a “rehearsal” every quarter would be beneficial.

Yakovenko stated that these failures should particularly focus on scenarios such as the market collapsing by 95%. He suggested that founders ask themselves the following three key questions:

• In such a downturn, which products should be focused on?
• What competencies should a core team possess?
• Is there enough cash reserve to sustain operations for the 18 months before the market recovers?

In addition, Yakovenko stated that the claims of significant victories of Solana in the market have harmed the ecosystem and that there are still many tasks that the cryptocurrency needs to accomplish.

The price of SOL has risen by 5% in the last week and is currently trading at 175 dollars at the time this article is being written. In the last month, there has been a significant increase of 17%.