Why is SOL so powerful? #sol #DOGE #WIF #BTC #BOME
Because it has become the cradle of the meme "Tu Dog", and the cradle of the previous cycle was BSC.
As the "King of Ecology", Ethereum has long been a gathering place for altcoins, but it has a shortcoming: it is too expensive when the bull market comes, and its transaction efficiency is very low. In the last cycle, at the beginning of 2021, Binance’s BNB chain seized the “spillover” of the Ethereum ecosystem and developed the “side chain” BSC chain of Ethereum.
Because BSC is relatively centralized, its handling fees are very low, its transaction efficiency is high, its experience is good, and it is supported by Binance’s massive traffic, it has quickly become a platform for issuing various altcoins. These altcoins are nicknamed “native dogs” by the industry. . The BSC chain has become the second largest ecological public chain after Ethereum. BNB has been transformed from a platform token into an ecological token, and its market value ranks among the top three.
In this cycle, BSC has obviously lagged behind. To this day, the price of BNB is still supported by Binance's new coin launch pledge, and the attention of the BSC chain itself has dropped a lot.
Since SOL itself was born in FTX, which is closer to Wall Street, and has a decentralized nature, the handling fee is very low and the experience is good, so starting from this year, many celebrity MEME coins were born on SOL, with a thousand times or ten thousand times. There are many meme coins, such as bonk, WIF, etc., and their popularity is sky-high. A large number of new projects are prioritized for issuance on SOL, which creates a strong wealth effect in the SOL ecosystem.
The crypto market is still in a wild stage. Except for Bitcoin, which has become a legal and compliant asset that can be allocated by traditional financial institutions through ETFs, other currencies are still mostly speculative. Since funds are all speculating on the SOL ecosystem, SOL-related memes, dex and other tokens are naturally being chased by funds.
In the last cycle, SOL was backed by FTX. Under the pull and manipulation of the violent accumulation of TVL, the increase was astonishing, but the ecology was "very ordinary". In this cycle, the dex, oracles, pledges, gamefi, ntf, meme, etc. on SOL are all faint. Coming out of a posture that can fight against Ethereum is the same as BSC in the last cycle. (Although it is an air meme, it is also ecological, and the secondary market still needs a wealth effect).
Therefore, in theory, even if the market weakens, SOL is unlikely to collapse directly like the last cycle, and it may last for a longer period of time, unless Ethereum crushes SOL in terms of L2’s ecological performance. Communication qun + Wei: 2758624303 However, there are no signs of this yet.Due to the collapse of FTX, SOL has become more "market-oriented". Although it has not yet escaped the shadow of the "downtime chain", it is highly likely that it will become the second largest ecological public chain in this cycle.
There are many projects in the crypto market, the technology is very good, and the ecology also has certain commercial value, but it just does not rise, and there is even no financial attention. The core reason is that they do not tell stories, do not develop models, and do not play games during the bull market, so there is no wealth. Naturally, people are not willing to speculate on the effect.
In each cycle, a large number of new people will enter the market. Which projects are friendly to these new users and allow them to participate in the market with a very low threshold will be easy for them to succeed. In the last cycle, BSC, TP Wallet, and Little Fox Wallet did SOL and okx wallet are doing very well in this cycle.
Talented people have emerged from generation to generation, and each has led the way for hundreds of years.
