Solana Weekly: #16 - Price Down, Volume Up, That's The Way We Like To F...

Thank you for joining me for the 16th episode of Solana Weekly, this is Thomas Bahamas we’re going to dive into what happened this last week and what the long term implications are. Solana Price - $19.00 and it kind of seems to be holding up, almost hanging on to support. Big week of news from fed, kind of feeling bearish. We saw some strength at 20, but broke through there and might be seeing the dip from the network outage. SolEth -.0122 - we’re dipping vs Eth. Tensor - bringing back the bull for NFT’s? Airdrop, liquidity, removing undercutters. What this means. We were under 70k Sol volume for NFT’s, and now we’re well over 100k with Tensor taking over 30% market share. Overall NFT’s are looking great on Solana. Been loving SolSniper to track volumes and Tensor’s tools are so good. My concern with Tensor is that it literally turns NFT’s into altcoins with pictures. You can just sweep and insta dump without looking at the NFT. Can’t tell if this is the future or the end of the generative NFT collection being looked at as art. Mad lads - wl claim 1st wave done. I think it’s looking super bullish and I haven’t seen a single piece of fud about them or the Backpack wallet. Lily, clayno, geckos all pumping. Clayno’s really pumping. Famous Foxes - over 70k/ week in revenue so bullish, they are looking real strong with FFF at 56, TFF at 18. I think they are so ripe for a pump. Also think they could do a Polygon tooling or drop and freaking crush. Shout out to degen mints in Monke Dao, these mfs create degen mints if there aren’t any. Smol coin, bidets, screen shotter fractionalized, worms, mug shawty’s of hot mug shotted women. The hustle doesn’t stop. Monke dao voted down the release of their omc collection. Taking a week to recoup. Floor price seems to track back around 200. I think they were rushing everything anyways. Nft LA coming up - Monke Dao party set, heard Clayno will do another drop. Sol defi: Down horrendously, TVL is bottom of the food chain and now below some chain called “defichain.” Sucks, but we need to rebuild. The value proposition of defi on Solana is super high, but the market is not supporting that. The market is not valuing it this way, so we’ll see if it’s wrong, or if the uptime issue is a game changer. Eth Denver just finished up, cringy songs but looked like a good time. Seems like the price didn’t tank massively, bullish. All quiet on the bonk front.Wallets - backpack is all the rage, also glow wallet is sick and probably the best mobile wallet. You can make any photo into an nft and use ai to generate pics.Ledger continues to suck with Solana and their latest update not connecting to phantom wallets. Leaving the door wide open for a better solution. Solana Phone - Q1 is ending soon and we should be seeing an announcement about availability. Saw a Bankless guy posting about issues with Uniswap not being able to get their wallet approved on Apple and went to say Solana Phone solves this, but it had already been raided. This is going to be a game changer. I still want to see some sort of sick defi way to fund the phone. Like lend Sol, borrow USDC, pay off monthly. I might just do something like that myself to talk about it. Bitcoin available on Solana, WBTC is back from Jump. Could this add to defi TVL? Yes. GBTC - Greyscale going to battle with the SEC, I think in order for the whole crypto market to heal we need a win here. Seems like they came out on the offensive and we saw the discount vs btc increase over 10% because of it. I think this is bullish for BTC and trickles down across the whole market. Thank you all and as Bunjil from Lily says all the time “Let’s get this s**t.” This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thomasbahamas.substack.com