Solana Weekly: #14: NFT's Slow Down and Market Cools Off

Sol Price: Just popping over $24 - started week off around $20 and peaked over $26. We’re still ranging, it is looking like we’re might have more ways to go down based off of traditional markets kind of nuking. SolEth - .01466 - Staying pretty close to Eth, whole market is slowing down a little. Magic Eden Volume: Down bad, at 77,134 Sol for 24 hours. Slow down in full effect. Kind of across the board. No exciting mints right now, no big movers. No idea how DeGods and y00ts have 30k of that volume. Jump conspiracy? Solana’s speed in innovation is in full effect: Eth currently seeing the royalty debate in full effect. Blur is rewarding users, stealing market share from OpenSea. NFT talk - what creates a successful project? What has worked short term vs long term? Community, burn, rewards, memes, communication, alpha. Crytpo Duck Punkz - your likely not exposed enough. Famous Foxes- upgraded my TFF, it’s sick, Zen0 did the upgrades, I’m super bullish. Citrus Lending protocol on FFF, iterating on Sharky, much better options for borrowers. Doesn’t have the same depth of liquidity, but it’s coming. Polygon has surpassed Solana in volume on NFT’s. But it’s all wash trading so it doesn’t really matter. How should cryptocurrencies compete? Tiplink - just raised 6 mill and released a sick project. Want to get someone into SOL but don’t have a good way? Create a link which is a Solana Wallet. All they have to do is click and claim and they are onboarded. Altcoins: Cooldown as well, RLB dipping some, I’m hoping for season two of Bonk soon, but nothing yet. Dust is pumping, but I’m just over it. Interesting problem on Solana: we need users to make money. This is people working in the ecosystem, this is investors, this is NFT enthusiasts. I feel like so many more people have gotten hosed from Solana because they bought in at the top. The cycles on Solana are just too damn quick, we almost need to slow it down. There is nothing wrong with people making money and we need to change the mindset on this one. I don’t even know what sector of the ecosystem makes the most money. As always, this is Thomas Bahamas, thank you for stopping by! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thomasbahamas.substack.com