The popular SOL ecosystem seems to have ushered in a major crisis. Not only does it not rise with the market, but all currencies are falling. In addition, the trading experience is 1B poor, and some new tokens perform extremely poorly, which makes people doubt it.
Is Solana’s Bull Run Over?
As a fan of the SOL ecosystem, I feel it is necessary to say a few words.
Major Premise
Subjectively, I prefer SOL. Before SOL fell into decline, I was already very interested in the style of SOL ecosystem.
At present, whether it is a MEME outbreak base, a dog manor, or a piece of ecological map, SOL has always given me a feeling of courage to break through the status quo, want to go my own way, not seek conformity, only seek innovation. On the other hand, I believe that this round of bull market is triggered by the United States, and subjectively treat SOL as the United States Ethereum. I like troublemakers, like new things, and hate the solidified classical blockchain. The greatness of SOL is beyond doubt in my opinion. Only with subjective recognition can we look down on the turbulent situation and be fearless of fluctuations.
background
How strong is the SOL ecosystem, how is its market recognition, and how much room for imagination is there? I believe everyone is not a fool.
1. SOL has become a high-quality MEME explosion base
WIF has the ability to impact SHIB's low position. It has been online for only two months and has sparked lightning all the way.
The old brand MEME bonk has made a lot of people rich, the new brand BOME is full of vigor and vitality, and BN has been continuously launching MEMEs in the SOL ecosystem. Why? It’s still the same word - new, two words, vitality
2. The activity of SOL's local dogs has exploded. If you are buying local dogs recently, you must be buying local dogs on SOL. It can be said that if you take betting as a serious matter in the currency circle, you can still make a lot of money. Betting local dogs on SOL is completely worthy of the word "serious matter" because the transaction volume is too large. There are really many golden dogs. There are people playing. Only when people play can there be opportunities. However, the pressure is given to the SOL chain. The excessive interaction volume leads to frequent chain jams, which is criticized. We will mention it later.
3. Large firms give high-profile support, and project parties move in one after another
CB, BN, and OE have recently launched a large number of SOL ecosystem projects. It is basic skill for large firms to take advantage of the popularity. Large firms are not stupid. The fact that they dare to launch them one by one not only shows that SOL is in its heyday, but also indicates that there is huge room for development in the future.
Let's talk about BackPack. BackPack belongs to the SOL native CEX concept. It should move towards the route of comprehensive traffic port, such as gradually having modules such as transmitter and pledge, and the details of the release of platform currency have not been announced yet. Many participants said that the activity of brushing transaction volume was reversed, and I personally still keep the expectation value full.
The migration of off-chain projects to the SOL chain is showing an increasingly intense trend, especially the recent hot concepts, DEPIN, AI, seem to be based on SOL as a strategic high ground, which is a bit too exciting, new on top of new.
I haven’t talked about the SOL phone yet. Are those friends who have bought it overwhelmed by its attractiveness?
Of course, since our title is so simple and explicit, there are indeed some problems with the SOL ecosystem.
Main black spots
Card
Yes, it's too damn slow. Not only is DEX difficult to use, but sometimes you can't even transfer money. If there are no robots, you'd better forget about it if you want to use DEX.
I definitely have a lot of grievances to complain about, for example, the MEME airdropped on mobile phones has not been available yet, and it keeps getting stuck and is on the verge of being cut in half, like the millisecond-level dog fights, which caused me to buy to the top of the mountain with one jam, and I am bleeding profusely. Is this how a human game is played?
JUP is such an awesome project, what’s so awesome about it? DEX is stuck
In fact, the SOL chain is so stuck not only because there are too many players, but also because of another dominant factor.
A certain founder @aeyakovenko retweeted @OreSupply
This project is very abnormal. It uses interactive mining on the SOL chain. It is called mining, but in fact it is creating a large amount of invalid transaction data to occupy the resources of the SOL chain. It just so happens that the price of the mined coins is not low, which directly crashes the chain. Fortunately, it is gradually cooling down now, otherwise it would be too disgusting.
With such a poor user experience, everyone thought SOL was doomed and started selling their chips. This is completely understandable, but let’s think about it from another perspective:
Suppose someone gets a piece of land and builds all kinds of facilities on it, and it becomes extremely popular, with too many residents and traffic conditions getting worse and worse, more and more people complain, and some people even move away.
If you are looking for a project to invest in, would you invest in this piece of land and the commercial facilities inside? I would invest heavily because it is popular. Even if the traffic situation is bad, it can be improved. After the improvement, won’t it be prosperous again?
Let's talk about W
Most of the new projects on SOL are good, but there is one exception that is really shocking
That is the Wormhole that everyone despised. It was listed on all major exchanges from the start, and its market value was directly in the top 50. Then the price was cut in half from 1.6 to 0.45, which brought shame to the SOL ecosystem.
As for the reasons, I think there are several points
1. Too high circulation market value and the black spot of theft, no one dares to take over 2. Too many airdrops, tokens do not have many application scenarios, and lack liquidity restriction measures 3. Few people can understand the value of W. The view that "it's just a cross-chain bridge" is deeply rooted in people's minds, but is W really a piece of shit? Is there no possibility of recovery?
I have also been trapped a lot, and I will pay special attention to the interpretation of W. There are probably a few more positive factors.
1. The technical strength and application scenarios are really awesome. Not only EVM is using it, but L1 is also using it. W is an interoperable protocol, not just a stinky cross-chain bridge. 2. Staking is coming. It is said, just said, that staking W will be launched soon and support a large number of airdrop projects. There are really a lot of cooperation.
3. The future ecological niche may develop into an infrastructure oligopoly, a unique
Of course, there is no comparison, no harm, and the sadness of being trapped by W is hard to be relieved no matter how much it rises. Its trend is probably the same as PYTH. It has been rising all the way after bottoming out and rebounding. The current price is less than 0.6, and it has entered the buying space. It is suitable for those friends who seek stability... Don't expect a short-term explosion.
Do these two black spots really mean that the SOL ecosystem is doomed? Not at all. Currently, SOL is around 137, with a target price of 1,000. It depends on whether you dare to take it. Even if you only play the SOL ecosystem, you will make enough money in the bull market.
Here I would like to give you a wave of faith, believe in SOLANA, and believe in a fresh and interesting future.
