What's up everybody, it's Thomas Bahamas and you are here for another episode of Solana Weekly where we break down the last week and make 100% accurate predictions for where we are going. This is not financial advice, but I'm calling this the part of the cycle where we get bidding. We just got good inflation numbers this morning, we're seeing governments starting to print, liquidity flowing, and rates about to drop in September. What else could you be asking for? I'm pumped to see what all the new releases in apps come out for Breakpoint, and we're seeing NFT's catch a little bid here.
Solana - $146.90 - flat on the week, kind of lame, but better than down.
SOLETH - .05536 - down a bit from .06189, we'll be back.
SOLBTC - .0024685 - down a bit from .00264.
SOL.D - 3.33
Pump fun revenue continues - beating out Eth revenue again, generating insane amounts of revenue.
Meme coin saturation?
NFT's catch a bid.
Degods - the ultimate cult. The more I think about what drives price action, the more I think that Degods has a huge upside. They have an insane community, irl events, exit liquidity from Eth, BTC, and Solana, Frank is probably the best NFT founder to ever do it and can generate hype on actual vaporware promises. I'm not sure what else you want. When I think about them vs something like Madlads, I think they have the higher upside. Madlads get airdrops, have tech, and have Armani and Tristan (which is amazing) but these Degods commitment to their cause is unreal. They followed Frank to Eth, Matic, and back. That's not to say I'm buying, but I'm finally seeing things through their eyes after meeting some in person. They were all great, and nowhere else can you get two cameramen to follow you on the golf course for free. It's a great frat. All that said they left solana in our darkest hour, fudded Solana for a long time after, and we don't like them for that.
Crypto - the ultimate asset class?
Previous best assets- gold, houses. Think of all the friction to sell a house, list, fix things, titles, loans, escrow, realtors on both ends, 50+ pages of docusign, it's insane.
Trump and Elon did a spaces and they didn't talk crypto at all, so it was worthless.
L2's seem to be coming to Solana whether we like it or not.
One month countdown to breakpoint and seems like easy money to long sol into breakpoint.
Quekz will be throwing a party, SMB's will be throwing a party, everyone somehow is willing to fly across the globe to join in.
Coinbase to release cbBTC which will likely be a better version of wrapped Bitcoin. I'm not sure if it will be on Solana initially, but I'm imagining it will be in short order. I would strongly urge anyone to not hold WBTC on Solana because it's bitcoin held in a multisig, tokenized on Eth, then bridged to Sol. Now they are making some adjustments to the multisig wallet that's holding all the Bitcoin and somehow or another Justin Sun seems to have two of the private keys holding it. So stay away, I like Threshold BTC which is TBTC, this is a Wormhole product and seems relatively safe. When it comes down to it, any wrapped product has some risk associated with it, so anytime there's bad news I jump ship immediately.
This also goes for Defi, we haven't seen it yet, or at least in a while, but Defi protocols get hacked, drained, and your tokens can get wiped. This has been the case ever since Defi was created, and while I think it has an amazing future, I would not be too comfy with all my money on chain in various lending protocols. the juice has to be worth the squeeze.
Solana Weekly #79 - Max Bidding