Serious Question: What the Heck Is Going On With Solana?

TL;DR

There havn’t been any big shifts in Solana’s fundamentals, or any loopy bulletins that will juice its narrative prior to now few weeks, but SOL goes up and up.

Solana had a whooole lot extra floor to get well than Ethereum. Even now, after SOL has exploded – it is nonetheless down 68% from its earlier highs, whereas ETH is just down 53%.

If Ethereum had been to go up 15%, it will add the equal of Solana’s total market cap, to its personal.

Full Story

What the heck is occurring with Solana?

It simply…it simply retains on climbing.

However there hasn’t been any big shifts in its fundamentals, or any loopy bulletins that will juice its narrative prior to now few weeks…

So what offers?

(And why is not Ethereum shifting alongside it?)

After we discover ourselves asking these sorts of questions, we divert to podcasts and articles, the place individuals a lot smarter than us give their two cents.

Right here’re three causes that made us go ‘oh, yep – that is sensible’:

Solana has 10x’d from its bear market lows (going from ~$8 in Jan, to ~$80 right now) whereas Ethereum has solely 2x’d. How does that work?

Nicely, Solana completely TANKED (dropping 96.8% of its worth, going from $250, to $8) due to its affiliation with FTX. Whereas Ethereum solely dropped 77.65% within the bear market, from ~$4.7k to ~$1.05k.

Level is: Solana had a whooole lot extra floor to get well. Even now, after SOL has exploded – it is nonetheless down 68% from its earlier highs, whereas ETH is just down 53%.

Ethereum’s whole market worth is WAY increased than Solana’s ($257B vs. $34B), which implies it takes much less funding to push SOL’s value up.

For context: if Ethereum had been to go up 15%, it will add the equal of Solana’s total market cap, to its personal.

To that time….there’s more cash to be made in Solana proper now.

If ETH features $34B in whole market worth, you make 15% in your funding.

If SOL features $34B in whole market worth, you actually double your cash.

So whereas Solana continues to be seen because the riskier guess, the prospect of a bigger repay is engaging a better share of investor cash for the time being.

Very cool!