Is Solana Dead?
The Crypto markets in general have taken a hit in the last couple of weeks, with many assets zeroing out their yearly gains, atmospheres like this brings out the weakness in major sectors and it's doing just that.
Blockchain In Review
Solana is one of the major Ethereum revivals, often referred to as the ethereum killer, but many key takedowns do not support this notion. With several crypto project on the edge of a collapse, Solana is flirting with a time bomb if it continues to embrace network outages.
Judging from the bearish nature of cryptocurrency markets lately, Solana is falling face down with over 19% decrease in the last 7 days. Its recent price bearishness has been as a result of its network downtimes, investors are losing faith on this one and making major exits.
Market Share
Over $17 billion has exited the projects market capitalisation in the space of one month. It could also be a simple market reaction, but what matters at some point is how much more can it fall? And when it does, what are the chances of recovery?
VCs will be VCs
When you're invested in a project with big players, you have to be wary of major hits, the trends on Solana aren't looking healthy, we've seen many levels of resistance amongst crypto projects over this period, Solana is clearly losing it. With the increase in transactions on the chain, the network is unable to maintain performance, this is bearish considering Solana has less than 200 protocols operating on the chain, while Ethereum has over 400 protocols, how's that for a killer?
You can't buy value
Market pumps, manipulations and NFT market in flow are easy game plays, but keeping hold of retail value? It takes a snap of a finger to have them exiting. Now this isn't to give investment advice, but many crypto projects will join Luna at the bottom, either on a steady downtrend or a flash crash.
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I like how you said that you can't buy value. So true. Im pretty happy with the value of hive. There is so much more than people even realize
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Hive is organic growth,too bad bitcoin had to be lazy lately, we probably be riding above $5-10
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I was pretty mad when we went into the bull market because I wasn't ready lol. I need to accumulate and unfortunately I have to do it by grinding, not investing.
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I hope this doesn't not become another Luna, really hate to see people lose money.
Sometimes even after you make your own research, things like this aren't predictable.
If you cant make profits at least get your capitals out.
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I was reluctant to short Luna because I believed there was enough VC money to revive it, I was wrong, won't hesitate to short Solana if I get any more bearish indicators.
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I truly wish you well.
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Bruh. Solana is taking a beating. Doesn’t look good
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Yeah, big money moving out.
is the fall in market share not due to the falling price though?
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It is, looking at the price is one thing, looking at the market cap helps you understand how much more has left the market.
but if the volume has stayed the same, and the price has fallen, this would also explain it. it is not a measure of activity on the market.
A better indicator would be daily traded volume perhaps or the number of Solana addresses.
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The daily traded volume includes both buying and selling activities, the number of addresses is a good indicator when looking at the community size or the distribution curve amongst investors.
To determine what comes in or goes out based on dollar valuation, I believe the market is the go to.
It settles where the buying and selling pressure settles. So using previous market caps, you can do you calculations to know just how much has left or flowed in since date.
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Anabiosis is perhaps a more appropriate word, but no one knows how long it will last)
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From what I see, I think Solana is not that good right now with all the shutdowns and I even saw a post saying that the blockchain is 30 minutes behind. It's kind of crazy to see it all and I just think the VCs are dumb for putting that much money there when there are so many issues.
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