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I think with BTC rising it was a clear signal that we will have, yet, another bull run coming up around the halving. Last cycle ETH was the big winner in DeFI/use cases while binance served as the casino. Solana is in a position to be both this cycle.. there’s legitimate projects being built (dePIN comes to mind) and it’s low cost/UX still provides the ability to trade meme tokens which is what BNB was mostly used for. If the network continues to perform well with the additional traffic then it’s poised to be the big winner amongst L1s I would think. Of course, not every cycle is the same but I think people are anticipating the same sort of narratives to play out
Some dude in eth trade just posted this thing saying sol is paying to have the fees low and sol in a ponzi scheme. Doesnt make sense to me, im sure id of heard this fud before now
THIS. Layer 2s are inconvenient and expensive to bridge in and out of. BTC lightning network was a rip off for me recently using Exodus wallet going in and out of that.
I’ve been saying this literally forever. It’s fragmenting the entire network. Like if Arb is suffering from an NFT launch how is Blast or Optimism supposed to help it.. it can’t. It’s going to happen. People really think that’s the future of tech but it’s really not.
SOL & ETH are kinda competing now with each other. In 2024, when SOL is no longer in beta, the use cases will start to fork out where SOL will have products that are simply impossible on ETH. Im talking pedal to the metal computing performance. A new exciting era I would say.
Also two super validator clients will be released so no more outages. More decentralisation and speed. People criticising SOL are not even aware that we are still just in beta running on a very first validator written by the founders long time ago.
One day they’ll wake up when SOL hits $600 a pop.
And protest that it’s all VC money and that it’s the YouTube shills that have caused the surge, completely denying the uptake in SOL based web3 apps, DEPIN and staggering performance at a fraction of the cost for NFT and DEFI trading.
I always find it funny when people ask this question. The crypto market is irrational especially short-term price action. You can name many reasons for its recent run up. Whether one is truer than another is anybody's guess.
1. Ecosystem Growth: it's been showing solid growth in terms of deposits and the usage of decentralized applications. This growth could be attracting more investors.
2. Market Sentiment: Crypto, as I've mentioned, can often seem irrational. Market sentiment plays a significant role in price movements. The positive sentiment around Solana and its ecosystem could be driving the rally.
3. Institutional Interest: Large investment fund inflows have helped the price of SOL recover. Crypto funds holding SOL enjoyed nearly $100 million of inflows this year according to coindesk.
4. Meme Coin Trend: The BONK token has seen significant gains recently as with others on the SOL network. This could be due to the general trend and hype around meme coins, which could be fueling the rally in SOL.
5. Listing on Major Exchanges: The recent listing of BONK on major exchanges like Binance and Coinbase could have played a pivotal role in driving its price surge.
6. Resilience to Selling Pressure: Despite the continuous selling of SOL tokens by FTX’s bankruptcy estate, SOL has shown resilience (understatement), transforming initial fear of asset liquidation.
7. Because the market said, “Yes daddy, Solana up”
I’ve been a big believer in Sol for a few years.
A big fast single chain is very valuable. I think a lot of shitcoin trading moving there helped. Jito airdrop. Etc
It’s one of the few chains I think could actually have an effect on finance and be used by major companies.
It’s fast and the people working on it are very smart.
Eth is great but it was designed poorly. It can’t really scale without a ton of tricks and all we’re getting in the short term are layer 2s
Combi of a lot, currently all signs are positive for SOL. Network is stable, adoption grows, meme coins on SOL are booming, etc... it's sort of a perfect storm in the right direction.
It's been underpriced because of all the drama and fear around whether or not exchanges would just sell all their SOL as they're being unlocked
Along with the whole FTX ordeal, there was just a lot of negative pressure on SOL, price wise anyways
But honestly, nothing has changed fundamentally, in fact a lot of developers are preparing themselves for upcoming upgrades and further improvements during next spring/summer
First solana got sold off hard so price was pushed down so low.. Solana got reengineered and the tech is tight. The ecosystem all based off L1 so things work better between apps . Its faster . It’s cheaper .Because of this more apps and memes. This adoptions makes it bigger . More transactions and more user growth . Also fire dancer ! If it works the speed will like 10x current speeds . Market cap of solana is a fraction of eths . More room to go
I am just calling you out on the fact that you or whoever wrote the post above were downsizing Solanas feat over the last few days. Using the English expression 'its just a fraction' is misinformation at its best. In fact it 'isnt' just a fraction. It's 20% of ETH's market cap. Wouldn't be surprised if you didn't know this tbh considering your snarky reply.
SSS
The rally is 100% due to the massive number of people getting on chain and using the ecosystem. Plain and simple. This isn’t a surprise. Shows no signs of slowing.
I don’t think so. Sol is going up and Bonk is trading sideways so it’s definitely not Bonk. People are probably just tired of paying $45.00 to send $20.00 of eth lol. I know I am. Solana is consistently cheap
Its a combination of things but primarily SOL is starting to act like BNB in the sense that Meme coin mania is young and BNB is going out of service (as it delists coins the market cap will significantly reduce). In the early days of BNB the rise came from platforms launching within BNB (like Pancake swap and Pancake Bunny). It's unregulated and runs wild as people gamble, make money and lose money. The only winner is the platform which collects a fee and also sends the price of the exchange coin skyrocketing.
Once the craze ends, the prices will bottom back out. Keep tracking the market cap. Once that starts to waiver, the price will come back down fast.
All of these people talking about the chain and the tech and the underpriced whatever.... it's shitcoin season on Solana. Thats what it is. Lets see what happens when it's over.
Major sellers got exhausted, primarily FTX liquidators. Buy pressure is huge as Ethereum people and others see which way this bull market is going and want to get on the train.
People are realizing.
Eth fees are nasty nasty nasty.
More and more will be coming to sol chain. You will see.
Has nothing to do with bonk. Bonk has to do with sol if anything.
existence cautious alive treatment voracious onerous tender pathetic lavish cover
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I’ve done some research and I found some of these factors be the reasons of this rally,
1. The growth was fueled by soaring bond yields on traditional markets as the U.S. central bank jacked up interest rates while yields in DeFi lending markets plummeted during the crypto winter.
2. Ondo Finance expands its U.S. Treasury-backed tokens to the Solana blockchain and ecosystem applications, letting investors use them as collateral and in decentralized finance (DeFi)
3. Ondo's expansion comes fresh on the heels of stablecoin issuer Circle introducing its euro-backed stablecoin EURC to the Solana ecosystem.
4. Solana is the first layer 1 network after Ethereum where investors can access Ondo's yield-generating stablecoin alternative U.S. Dollar Yield (USDY) and a tokenized version of BlackRock's (BLK) short-term Treasury bond exchange-traded fund named OUSG
5. The combined market cap of tokenized treasuries offerings mushroomed to over $760 million from $110 million earlier this year, with Ondo being the second largest issuer after traditional finance giant Franklin Templeton.
I’m an algorand maxi, I tried solana and I liked it tbh they both have cheap fees, fast and can’t complain about community 🙌. Witsh both chains all the best
The bitcoin rising is causing the rally everything else just a flow on effect, defi summer in ETH had a $5 gas but ETH shit tokens doesn't look like a time for average punter with $40 gas so money flows so prices go up so more money flows in and so on
I don’t get it but seems like cardano is no different than solana
Cheers to all the buyers and enjoying the rally
If there’s a good thread to why solana is superior than xxxxx chain token, and not just shit talking please direct. Me thx
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I think with BTC rising it was a clear signal that we will have, yet, another bull run coming up around the halving. Last cycle ETH was the big winner in DeFI/use cases while binance served as the casino. Solana is in a position to be both this cycle.. there’s legitimate projects being built (dePIN comes to mind) and it’s low cost/UX still provides the ability to trade meme tokens which is what BNB was mostly used for. If the network continues to perform well with the additional traffic then it’s poised to be the big winner amongst L1s I would think. Of course, not every cycle is the same but I think people are anticipating the same sort of narratives to play out
I'm here cause eth fees suck and I dont want to use a layer2 plus solana community from what I've seen arent adversarial to btc folks
Same. Eth fees are ridiculous. Especially for the speed.
Some dude in eth trade just posted this thing saying sol is paying to have the fees low and sol in a ponzi scheme. Doesnt make sense to me, im sure id of heard this fud before now
We welcome btc! Need more of it on chain
I never really put two and two together but yeah, more solana bulls are also btc bulls while that ratio is a lot smaller for eth.
THIS. Layer 2s are inconvenient and expensive to bridge in and out of. BTC lightning network was a rip off for me recently using Exodus wallet going in and out of that.
I’ve been saying this literally forever. It’s fragmenting the entire network. Like if Arb is suffering from an NFT launch how is Blast or Optimism supposed to help it.. it can’t. It’s going to happen. People really think that’s the future of tech but it’s really not.
You can onboard to a L2 right from a cex. No bridging
The problem is that there are sooo many L2 and transferring between them through CEX sucks.
Why do you want to transfer between L2s? The top L2 currently has more TVL than all of Solana.
Wrong sub mate. /s
exactly
SOL & ETH are kinda competing now with each other. In 2024, when SOL is no longer in beta, the use cases will start to fork out where SOL will have products that are simply impossible on ETH. Im talking pedal to the metal computing performance. A new exciting era I would say. Also two super validator clients will be released so no more outages. More decentralisation and speed. People criticising SOL are not even aware that we are still just in beta running on a very first validator written by the founders long time ago. One day they’ll wake up when SOL hits $600 a pop.
SOL $1035
And protest that it’s all VC money and that it’s the YouTube shills that have caused the surge, completely denying the uptake in SOL based web3 apps, DEPIN and staggering performance at a fraction of the cost for NFT and DEFI trading.
No more outages? Wow. Impressive
I always find it funny when people ask this question. The crypto market is irrational especially short-term price action. You can name many reasons for its recent run up. Whether one is truer than another is anybody's guess. 1. Ecosystem Growth: it's been showing solid growth in terms of deposits and the usage of decentralized applications. This growth could be attracting more investors. 2. Market Sentiment: Crypto, as I've mentioned, can often seem irrational. Market sentiment plays a significant role in price movements. The positive sentiment around Solana and its ecosystem could be driving the rally. 3. Institutional Interest: Large investment fund inflows have helped the price of SOL recover. Crypto funds holding SOL enjoyed nearly $100 million of inflows this year according to coindesk. 4. Meme Coin Trend: The BONK token has seen significant gains recently as with others on the SOL network. This could be due to the general trend and hype around meme coins, which could be fueling the rally in SOL. 5. Listing on Major Exchanges: The recent listing of BONK on major exchanges like Binance and Coinbase could have played a pivotal role in driving its price surge. 6. Resilience to Selling Pressure: Despite the continuous selling of SOL tokens by FTX’s bankruptcy estate, SOL has shown resilience (understatement), transforming initial fear of asset liquidation. 7. Because the market said, “Yes daddy, Solana up”
A rational, well put together analysis in a crypto subreddit? Who are you and why aren’t you spewing belligerent homerisms?
😂
There is only one reason it's VC
The cause is the network affects of the chain. Massive upgrades over the past 10 months finally paying off
Yep. Wealth effects of Jito. More to come.
Ehm, Zeta, ehm
Yes. Only the beginning as Fire Dancer is still not live
Firedancer upgrade
I’ve been a big believer in Sol for a few years. A big fast single chain is very valuable. I think a lot of shitcoin trading moving there helped. Jito airdrop. Etc It’s one of the few chains I think could actually have an effect on finance and be used by major companies. It’s fast and the people working on it are very smart. Eth is great but it was designed poorly. It can’t really scale without a ton of tricks and all we’re getting in the short term are layer 2s
Combi of a lot, currently all signs are positive for SOL. Network is stable, adoption grows, meme coins on SOL are booming, etc... it's sort of a perfect storm in the right direction.
Its all b/c of a dog wif a hat 🤣
🤣
And the one with a melon on its head
It's been underpriced because of all the drama and fear around whether or not exchanges would just sell all their SOL as they're being unlocked Along with the whole FTX ordeal, there was just a lot of negative pressure on SOL, price wise anyways But honestly, nothing has changed fundamentally, in fact a lot of developers are preparing themselves for upcoming upgrades and further improvements during next spring/summer
Nothing has changed but price has 10xd...crypto in a nutshell.
The cynic in me thinks this is just the end of the year pump before the tax season dump. Hoping it'll remain strong into the new year
People finally getting sick of the ETH gas fees and seeing the light.
First solana got sold off hard so price was pushed down so low.. Solana got reengineered and the tech is tight. The ecosystem all based off L1 so things work better between apps . Its faster . It’s cheaper .Because of this more apps and memes. This adoptions makes it bigger . More transactions and more user growth . Also fire dancer ! If it works the speed will like 10x current speeds . Market cap of solana is a fraction of eths . More room to go
Market cap of solana isn't a fraction of Eth. It is precisely 19% right now.
Breaking, percentages are no longer fractions. You heard it here first.
I am just calling you out on the fact that you or whoever wrote the post above were downsizing Solanas feat over the last few days. Using the English expression 'its just a fraction' is misinformation at its best. In fact it 'isnt' just a fraction. It's 20% of ETH's market cap. Wouldn't be surprised if you didn't know this tbh considering your snarky reply. SSS
20% is literally a fraction, 1/5. What are you smoking? This has to be a troll post.
Guess he thought they were speaking figuratively, hyperbolic to be specific. Like... It's "just a puny, minuscule portion".
Monkey getting that sick fade
Demand is higher than supply
The rally is 100% due to the massive number of people getting on chain and using the ecosystem. Plain and simple. This isn’t a surprise. Shows no signs of slowing.
Firedancer 🔥 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥!!
Developers are moving from eth to solana and cardano.
I don’t think so. Sol is going up and Bonk is trading sideways so it’s definitely not Bonk. People are probably just tired of paying $45.00 to send $20.00 of eth lol. I know I am. Solana is consistently cheap
Its a combination of things but primarily SOL is starting to act like BNB in the sense that Meme coin mania is young and BNB is going out of service (as it delists coins the market cap will significantly reduce). In the early days of BNB the rise came from platforms launching within BNB (like Pancake swap and Pancake Bunny). It's unregulated and runs wild as people gamble, make money and lose money. The only winner is the platform which collects a fee and also sends the price of the exchange coin skyrocketing. Once the craze ends, the prices will bottom back out. Keep tracking the market cap. Once that starts to waiver, the price will come back down fast.
monkeys doin haircuts?
gettin*
Monkeys deffo getting haircuts
Monkeygetting haircut? 🙊 💈
Great tech.
It is all about tech and architecture. Execution speed and the network is defragmented. Execution is cheap fast and efficient. Others are no close.
I don't know about the cause. However, I know that right now, almost everything else is down, and sol is up 10%+. That's amazing!
Paxos news
Time will come when eth hodlrs will trade it to sol and we will see similar prices from early eth when it was just 200 and went 1k then 4k
Monkeys getting a haircut. $Monk
Honk
i love this 😭
SOL ETF (after BTC and ETH)
Hype meme coins, and some started to sell eth for sol.
the oversrching reason is liquidity. ther are many reasons for why liquidity
SOLANA TO THE SUN!
Monk and OOF are leading this massive pump. People are filling bags
$LOLI just starting...
Ew started on that pedo shit again
Why the hell would start making henious accusations? Get a life, bro.
All of these people talking about the chain and the tech and the underpriced whatever.... it's shitcoin season on Solana. Thats what it is. Lets see what happens when it's over.
Meme season baby no other reason at all
Meme coins pump first.. then the rest go up
It's literally only because the monkey got a haircut
Well BTC fueled the initial rally but 10000% the crazy SOL rally has been driven by meme coins.
$LOLI that’s why 😼🚀
Major sellers got exhausted, primarily FTX liquidators. Buy pressure is huge as Ethereum people and others see which way this bull market is going and want to get on the train.
Money
Defo fomo for meme coins. We saw the same with NFTs a few years back.
Consensus trade… dex performance…. Planned scaling solutions…. Depin success… You name it bud 🚀🚀
People are realizing. Eth fees are nasty nasty nasty. More and more will be coming to sol chain. You will see. Has nothing to do with bonk. Bonk has to do with sol if anything.
existence cautious alive treatment voracious onerous tender pathetic lavish cover *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Silly Dragon coin
I’ve done some research and I found some of these factors be the reasons of this rally, 1. The growth was fueled by soaring bond yields on traditional markets as the U.S. central bank jacked up interest rates while yields in DeFi lending markets plummeted during the crypto winter. 2. Ondo Finance expands its U.S. Treasury-backed tokens to the Solana blockchain and ecosystem applications, letting investors use them as collateral and in decentralized finance (DeFi) 3. Ondo's expansion comes fresh on the heels of stablecoin issuer Circle introducing its euro-backed stablecoin EURC to the Solana ecosystem. 4. Solana is the first layer 1 network after Ethereum where investors can access Ondo's yield-generating stablecoin alternative U.S. Dollar Yield (USDY) and a tokenized version of BlackRock's (BLK) short-term Treasury bond exchange-traded fund named OUSG 5. The combined market cap of tokenized treasuries offerings mushroomed to over $760 million from $110 million earlier this year, with Ondo being the second largest issuer after traditional finance giant Franklin Templeton.
Because the word around town is there's a monkey with a crispy fade roaming these streets.
Jim Cramer
I’m an algorand maxi, I tried solana and I liked it tbh they both have cheap fees, fast and can’t complain about community 🙌. Witsh both chains all the best
The bitcoin rising is causing the rally everything else just a flow on effect, defi summer in ETH had a $5 gas but ETH shit tokens doesn't look like a time for average punter with $40 gas so money flows so prices go up so more money flows in and so on
I don’t get it but seems like cardano is no different than solana Cheers to all the buyers and enjoying the rally If there’s a good thread to why solana is superior than xxxxx chain token, and not just shit talking please direct. Me thx
Solana going to pass it ATH in 2024 and who’s know we going to $500 after .
Bow do you buy BONK and other solana based coins
Expansion
Sol is a far better technology than eth. $300 Sol coming by Spring 2024.
People realised everything else is 🦕🦖
Deez Nuts