Solana is one of the most challenging projects bc it’s getting such huge mindshare. On the one side, every influencer seems to own it and have bought at a lower price so the pump is on. On the the other hand, it’s owned by investment firms who bought FTX clients tokens cheaply and will most likely dump their cheap tokens ASAP as they unlock over the next 4 years.

There aren’t too many protocols in Solana and it’s mainly a casino of ripoff Memecoins. It’s up quite a bit from its lows but it also got punished worse than most L1s bc of its SBF/FTX/Alameda association.

I think you are sharing a very unpopular opinion which I happen to agree with. I’m pretty sure the Solana inflation rate is 8% and not the 15% you mention, but maybe you are including unlocks/vesting.

Even at 8%, the L1 is inflating at $15M daily to bring in $1-$2M in fees. But, it’s hard to argue against the mindshare. Perception is reality in crypto. I can still see Sol easily going to $1K, but I feel better holding BTC too.

My strategy (which hasn’t worked too well yet) is to hold some high beta Solana plays such as WIF, JUP, ZEUS, and a couple of others. I’m hoping these outperform SOL on its future rallies.

Nice article!