What’s up everyone this is Thomas Bahamas and you are here for another episode of Solana weekly. Here to breakdown what’s going on the evolving crypto ecosystem and figure out Solana’s place in it. Solana is making its mark in the space and rocketing up in price.
Sol price: $42.68 Up 11.15%. We. Can’t. Stop. The. Pump. Heating up from when I recorded to 43.50, and my guess is we head up to a massive sell wall at $47.
SolEth: .02263 Up endlessly and we hunt that .1 target.
SolBtc: .0012 Up almost 8% on the week.
Price talk- excellent. Pumping, hit a high of 46 and wouldn’t be surprised if it’s going higher. Massive buy walls and massive candles. Price seems like it’s stabilizing here and we love to see it. Tons of threats from Alameda coins unlocking from staking and it seems like the crowded trade was shorting Sol because of this. Someone is catching these guys and the appetite for buying is unreal.
What does excellence in crypto look like?
I think if we start from first principles maybe we can get somewhere.
So crypto is an alternate banking system outside of traditional finance. A payment network with digital assets that’s decentralized and can be owned by everyone and censored by no one.
Bitcoin started this industry, and has the network and asset that is battle proven and has significant value.
Eth came from this and started the smart contract revolution. Programmable money. Bringing in decentralized finance or defi where lending and borrowing could be done on chain. This also brought about legendary amounts of degeneracy, crowd funding with Ico’s, digital collectibles, and now scaling solutions with a layered blockchain that’s faster on top of eth to help with large transaction fees and the fight for block space to execute transactions.
Now we move to next generation blockchains that remove all the friction we experience with these blockchains.
Slow speed, congestion, expensive fees all make for a worse system than the traditional banking system. Sure you could get by with using these, but it would be a pain in the ass.
This is one I struggle with because there aren’t that many good actors in the space. All the main characters of the space are pretty much out of the spotlight or incarcerated.
Moving passed ftx and Sam is going to the slammer.
Node battle with eth. Solana $300/ a month vs Eth validator on a raspberry pi. Don’t really care.
Or narrative battle with eth in general.
Breakpoint aftermath, seems like everyone got covid.
Sollinked won the huge competition.
Degen dads actually minted through sollinked. A delightful experience overall. Send some cash and a description of what nft you want and get a sick custom pixelated nft in return. Couldn’t be happier.
Armani and backpack exchange. Own the experience in one app.
Bonk. BONK. BONK!!!!
Not getting too caught up in narratives.
Not over trading and overthinking the market.
Duration trading - ensure you are looking at the long picture if you’re planning on holding for the long term.
Jupiter - airdrop details, perps.
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