What’s up everybody! This is Thomas Bahamas and you are here for episode number 32 of Solana Weekly. Here to drop some alpha on what's going on and where we're going. We seem to have hit a bit of a local top here across the market but overall some good gains could be found. I like the idea of placing our bets for where we see the market going and I think now is the time to make some confident bets.
To the market:
Sol Price: $18.69 an overall increase of 15.5% on the week! Love to see this, and we even tipped at $20 a few times. Man that felt good. The scene is set in my mind for a great rest of the year and 2024 on Solana and we are just starting to see it.
SolEth- .00980 - or an overall increase of 11.76%. That’s right, we’re moving against the market and breaking out.
SolBTC - up 15%! Did we actually catch that illusive bottom I’ve been talking about? I sure hope so.
Airdrop season coming to Solana - Marginfi, Cypher, Goose, Drift, even look for older options with Solend, mango reboot. I saw that there is something like 9 protocols with a token drop on the loose. I’m hoping Sol Defi 2.0 is better than 1.0, because all those tokens went to 0 swiftly. But I’m thinking they will be better.
To farm or not to farm? If you do farm, find a profitable way to do so. I don’t like all the 6 month lock ups I’m seeing, and don’t think that getting liquidated on any platform to get a few tokens is worth it. I saw that Machi the big BAYC kind of scammer guy is down millions trying to farm Blur points.
Bought a cyber frogs and one of their ordinals. Minted these bad boys and wanted to check out their trading bot and think it’s a good spot to join back in.
Ordinal fud- we have a couple weeks to months of these holding more value, then we see the capitulation of sol projects moving over. Right now we see a lot of sol players moving over because btc holds value better than sol. We’ll what happens when that flips?
You have a slow chain, with a terrible ui that is underperforming solana. I think we can be safe to call this the accumulation zone. We will see more dips in sol projects that are great and we buy in.
Side note I actually think that eth projects that have btc drops will do well. Think limited edition releases will hold value. Eth is kind of the middle ground between the extreme utility availability of sol, and the extreme hardness of btc. You don’t really want the middle, but I could see the most expensive projects being on btc.
Nft fi- is it the payday lending of web 3?
Smb gen 3 - barrels were minted, I got 0/10 barrels from my tickets and 80k total were bought.
People with barrels have taken over the discord and it’s amazing. The reveal will be this Friday and I’m sitting on a total of 3 barrels I look forward to cracking.
Prime trust went under. They were a banking partner to many crypto companies.
Phantom got a new logo and a sol only mode. Someone drew the new logo into a cock and balls and I can’t unsee it.
Got a bonk shirt.
Still waiting on my Helium 5g Sim Card to test out my one month free with my Saga.
Trading view has a 50% off discount and free month of premium, worth checking out.
Wallet safety PSA - there were a few hacks reported recently, don’t keep too much in your daily driver wallet, keep a savings account that’s cold storage and never been connected to a single site. See my Substack for more info on wallets.
And yea that’s what we’re looking at, consolidating the week’s gains, understanding why we are goin up, and cautiously looking for more NFT deals.
This is Thomas Bahamas signing off and hope to catch you in the Bahamas in the bull.
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