Damn, Solana Is on a Tear! Here’s What Could Stop It…

TL;DR

• Solana just isn’t solely one of many youngest tasks within the prime ten, but it surely’s outperforming everybody else.

• Solana’s NFT ecosystem gross sales quantity is now outperforming Ethereum’s – that’s large given ETH has about 10x extra worth ($$$) floating round its ecosystem (which = 10x extra incentive to attempt to commerce/earn from it).

• Right here’s what’s worrying/haunting the SOL market: FTX owns about $4B price of SOL, and will promote at anytime.

Full Story

Solana: the overachieving youthful sibling of the highest ten crypto tasks.

(Forgive us for tooting our personal horn, however…)

That analogy is significantly on level!

Solana just isn’t solely one of many youngest tasks within the prime ten, but it surely’s outperforming everybody else.

Examine these stats out:

• SOL is up 13% over the weekend, bringing it to a complete 7.5x enhance from the lows this yr.

• Solana’s NFT ecosystem gross sales quantity is now outperforming Ethereum’s – that’s large given ETH has about 10x extra worth ($$$) floating round its ecosystem (which = 10x extra incentive to attempt to commerce/earn from it).

• Solana’s first massive meme coin ($BONK) is doing numbers proper now! It’s up 26%.

That stated – Solana ain’t good…

Right here’s what’s worrying/haunting the SOL market:

FTX owns about $4B price of SOL, and will promote at anytime.

(The upper the worth will get, the extra incentive it has to promote and repay its debtors).

…and the extra promoting stress there’s, the decrease the worth is more likely to go. It’s a threat!

However for now? Hooooray, worth go up!