every few weeks, the same Solana chart that circulates in this app
that Solana is hitting ATHs in market cap, but not price
this is a big edge if you know how to read it
i) the tick this year is due to token unlocks
remember when all the usual suspects kept saying that unlocks were coming and that it would kill the chain?
yeah so the unlocks happened, and the chain doesn't look dead to me
in fact, it's on its way to ATHs
and of the remaining locked tokens, the DATs are trying to buy them up, which will alleviate the selling pressure
ii) a part of the mcap is obviously due to issuance
however,
a) issuance is going down over time according to a curve, and there are talks to reduce issuance with a SIMD
b) you are completely protected if you stake with a no-commission validator
in fact, not only are you protected, you earn real productive yield from trading activity onchain
(you can confirm this by tracking the mcap of LSTs btw)
so what you have left over is:
- no more big unlocks
- sell pressure being absorbed
- issuance going down
therefore: trillions