GM,GM the market has shifted, the sentiment is so positive and I’m having a blast. We’ve got another huge week and I’m having a hard time taking my eyes off the Bonk chart long enough to make this 8th episode drop. I’m going to get into how we almost doubled the price of Solana, saw insane volume in NFT’s and how a meme coin gave a community something to rally behind.
Price of Solana: From $8 to $13.50, huge. Last episode I was shaking in my boots and sticking to my guns. I bought more and I now feel like a genius.
Interestingly enough a tweet from Vitalik talking about the Solana team’s developers marked the bottom. He had heard that the teams are solid, and hoped the best for them or something along those lines. From there we saw an uptick and the Billions that were shorting Sol ended up getting squeezed out.
Then we had the airdrop of BONK! This through gasoline on the short squeeze and we wicked to over $14. People are trashing Bonk, because it’s all over the timeline, it’s loud, we’re euphoric. But let us have this, we’ve been in Solana for a while and just went down like 96%. This was a community token, airdropped to the Solana Devs, NFT holders of top projects, and dropped with spectacular memes. This brought so much liquidity and fun I can’t stop talking about it. My wife hates it. But what needs to be said is that rewarding everyone that’s been in the community should be celebrated, this was done with good intentions from a solid team of 22 OG’s. They aren’t “Boogles dumping on us” they are a team of legends that pulled off one of the best airdrops yet.
Degods allocation of bonk got straight burnt today, it was something like $600k worth.
Defi is pumping, Orca lp is going insane over 999% apy right now. I put in a tiny amount and got 10% returns on my investment in a day.
The best part is that the airdrops aren’t even done yet. There’s currently over 90,000 active wallets that have traded or held Bonk, with a ton of new wallets being opened since the drop. So people are actually in profit, on an SPL token on the Solana blockchain.
I don’t know where we go from here, I sold some and I’m holding onto my bag for a while. It’s just fun, I believe in it even though it’s so hard to just blindly hold.
Good tokenomics, good team, good goal, fun, good memes, I took some profit, now I’m going to 50 iq it and hold a bag.
Art update meta - Monkettes the SMB deriv is getting a facelift and a supply squeeze. Burn one Monkette to upgrade another that’s designed by a sick @marculinopng Monkette. If that name sounds familiar it’s because he designed the dude on the artwork for this pod. He’s super talented and I’m pumped that he’s getting recognized.
The Transdimensional Famous Foxes of Famous Fox Federation will also be getting an art upgrade by the talented Zen0, which will be sick. I’ve been saying I like the tff’s more than the fffs and now with these upgrades it’s coming true, and these will be epic.
I called him Zen0MMM on the pod, my apologies sir.
All NFT’s have been pumping, volume off the hook. People coming to Solana for bonk, taking profits and buying nft’s. Let’s keep it up and have some fun, celebrate people taking profit, and try to not fomo in at the top.
Echo chambers. The serious lack of energy in the R/Solana channel in Reddit. The terrible Wikipedia page that it had, and basically how we are stuck in what I call the Echo Chamber problem. We see all the latest news, we know what’s real fud and and what’s problematic, but if you’re trying to DYOR and Google search Solana or look on Youtube, you’re probably walking away from the ecosystem.
This isn’t just a Solana problem, it speaks to the current system of the loudest people getting the most play everywhere. We scoff at SEO and catchy headlines, but they seem to run the show.
To be honest, this is one of the major reasons I created the podcast. Give a digestible information drop on big picture items, what’s going on in the ecosystem, and try to use a long term view of things. I’m not a trader, I just love using Solana, love the community, think that NFT’s are some of the most exciting expression of the combination of art, business, software, technology, DAO’s and pushing all of these to their absolute limit.
I hope that comes across and I hope that you got something out of this. Feel free to reach out or leave me a review on the pod to let me know how I’m doing.
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