TL;DR
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SOL’s three largest weaknesses, turned strengths are listed beneath.
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Firstly, FTX; secondly, VC funding; and thirdly, the soundness of SOL.
Full Story
that episode of The Workplace, the place Michael interviews for the place at company?
And when requested to record his weaknesses, he truly lists his strengths…
(“I care an excessive amount of, I work too arduous, and many others.”)
Yeah, properly, Solana appears to be ‘pulling a Michael Scott’ proper about now.
Right here’re SOL’s three largest weaknesses, turned strengths:
Wait – maintain up – earlier than we go any additional, it is value mentioning…
These are simply observations we have created from our each day (over)consumption of crypto information over the previous 1-2 years (we might be approach off in our interpretations).
This isn’t monetary recommendation – neither is it a vote for/in opposition to any competing chains.
(Level is: do not @ us).
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Weak point: FTX owned a number of SOL, if it have been to be bought off in chapter proceedings, this might crash the value.
Power: FTX has since locked up a giant chunk of its holdings in staking contracts, suggesting it plans to carry it for some time.
Plus: the corporate even bought a $13M bag of its liquid holdings not too long ago…and never a lot occurred to the value. That is a giant vote of confidence!
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Weak point: Quite a lot of enterprise capitalists invested in SOL early on, which branded it as a ‘VC coin,’ stoking fears that these buyers would money out and dump the value because the market rose.
Power: That is all nonetheless true – VC’s maintain a number of SOL they usually might properly money out/be cashing out.
…nevertheless it would not appear to be negatively affecting the value to date – actually, SOL has ~3x’d previously month – and now everybody’s getting FOMO.
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Weak point: For some time there, Solana had a behavior of taking place – as in, ceasing to work – for hours/days at a time. That is NOT one thing you wish to see in a world financial community.
Power: The core growth workforce claimed to have fastened the difficulty earlier this yr…and to date, so good!
Alright, that is it. That is what the hell is happening with Solana.
