Solana (SOL)

Solana spent years being dismissed as the memecoin chain that reputation is quietly becoming its biggest advantage for years Solana’s identity was the memecoin chain. fast, cheap, chaotic, retail’s playground that reputation built the culture - but it also became a ceiling serious capital stayed cautious now big banks are moving billions into the Solana ecosystem and the narrative is quietly flipping. the same speed and low cost that powered memecoin season turns out to be exactly what institutions want for settlement and tokenized assets heres the nuance though - - Solana is not abandoning the memecoin crowd. its proving a chain can hold both. the casino and the bank, running on the same rails thats the actual maturity story. not picking institutions over culture - but building infrastructure neutral enough to serve both at once the chains that win the next decade wont be the ones that pick a lane. they’ll be the ones wide enough that they never had.

I wanted to make a post about this but luckily Bando covered it. Smart scam and even tricked the X algo. Another day another @solana scam.

Solana quietly became the second largest RWA chain and most of crypto Twitter still thinks it's just for memecoins... https://t.co/tIzbLhaKo3

$SOL RWA sector hit $2.6B with 43% QoQ growth. SEC prepping tokenized equity exemption. SpaceX PreStocks volume spiked $11.9M in 24hrs on Solana. BlackRock and Vanguard already sitting on $51M in SOL treasury exposure. The rotation is happening onchain.

Day 437 of posting the Solana logo until it hits $300 https://t.co/art3ah6GuQ

SOL/BTC is about to enter its bottoming zone. I'm expecting 4-6 months of sideways price action in this zone before a breakout and rally. https://t.co/S4MMX1dlMg

Going live for a huge FOMO Hour in 20 minutes! First we’re talking markets, SEC reversing course on tokenized stocks and Punks heating up Then @vibhu joins to talk Phoenix vs Hyperliquid, the state of Solana and more Live at 10 am ET! https://t.co/xbBVFCBF7g

A bunch of large Solana accounts have been shilling @PhoenixTrade lately. So I went digging to see what's actually different about it vs Hyperliquid. Background Drift got drained for $285M a few months ago. A lot of that volume migrated over to Hyperliquid, and there's a real void in Solana perps. So the OG Solana crew is pushing Phoenix to take over. Phoenix is a perp DEX built by Ellipsis Labs. And they raised $44M from Paradigm, Electric Capital, and Toly personally The orderbook The piece that caught my eye is how the orderbook works. Phoenix combines a standard FIFO orderbook with something they call Spline Liquidity, where market makers publish a midpoint and a curve and Phoenix turns it into orderbook levels automatically. A quote update costs 600 compute units. On a traditional perp DEX model it costs around 300,000. So MMs can refresh quotes way more often without paying for it, which in theory means tighter spreads at scale. Fees Phoenix is roughly 6x cheaper across the board: • Maker: 0.005% vs 0.03% • Taker: 0.035% vs 0.09% • Referral share: 30% vs 10% If you're shilling a referral link, Phoenix pays 3x more for it. Volume Hyperliquid is way out ahead: Hyperliquid: $170B 30D volume, $8.7B OI Phoenix: ~$20M daily volume, $3.6M OI Under 1% on both. Keep in mind it’s not really a fair comparison as Phoenix is still in beta. Distribution Hyperliquid airdropped 310M HYPE to 94,000 wallets with no vesting and no insiders. Which led to their hardcore community. Phoenix has said there’s no points and no airdrops coming. So I’m not really sure if the cheaper fees will be enough incentives for people to move over. Will test Phoenix once I get access. What do you guys think?

$SOL OG staked 991K tokens in 2021, has now sold 965K of them at an avg $143 exit price, netting $137M. 381K SOL still staked. At 30-50K per clip, full exit is months out. Slow drip, not a nuke. Watch for the next unstake event.