Resnick wrote a blog post outlining his motivation for joining Solana, emphasizing his desire to gain knowledge of the protocol’s core components, including consensus processes and fee markets. He explained, “I want to get to the bottom of the implementation details as soon as possible,” adding that his work could open the door for others to ultimately help Solana thrive.
Last week was my last week at Consensys. Today is my first day at @anza_xyz.
I attribute my talents to Solana.
In the first 100 days, I plan to write the specification for as much of the Solana protocol as possible, prioritizing fee markets and consensus implementations where I…
— Max Resnick (@MaxResnick1) December 9, 2024
Focus on collaboration and innovation
Resnick’s decision wasn’t just about Solana’s technology; he also highlighted the important work of Anza, a research and development firm specializing in Solana. He applauded Anza’s behind-the-scenes efforts to improve the network.
“Those of you who live on Etland may not have heard much about them, but they have quietly made major improvements to the network over the last year,” Resnick said.
Despite the transformation, Resnik did not completely abandon Ethereum. As a research scientist at Consensys, he will continue to provide advice and support. Resnick’s dual function sees him aim to merge knowledge between two important blockchain environments, thereby benefiting both communities over time.
Solana price dynamics
Positive confidence helped Solana gradually improve market performance. Over the past 24 hours, the price of SOL has increased by 5.9% to $225. Since the beginning of November, the altcoin has risen sharply, breaking through critical resistance levels. Over the past year, the value of SOL has jumped 215%, indicating increased investor confidence.
Slow price growth suggests a stronger technical structure and wider market utilization. Analysts predict that Solana’s success will continue, especially with big names like Resnick on its development team.
#Solana $SOL will be priced at $4,000 based on this cup and handle model! pic.twitter.com/dXZLI9urOh
— Ali (@ali_charts) December 10, 2024
Various price forecasts
However, forecasts about the eventual price of Solana vary widely. Inspired by the cup-and-handle pattern displayed on monthly charts, cryptanalyst Ali Martinez believes SOL could reach $4,000. This bullish concept suggests that a break above $260 will lead to exponential growth.
On the other hand, asset management firm Bitwise set a more conservative price target of $750, citing macroeconomic variables and broader market trends. These diverging expectations illustrate the unpredictability of the cryptocurrency world, where optimism and caution often coexist.
Featured image from Medium, chart from TradingView
