How Solana is Devouring Crypto Markets

How Solana is Devouring Crypto Markets

welcome back it’s Friday thank you all for coming again I see some of the same names here this is the salana weekly there is so much news to cover I did this for the first time a week ago and what has happened in the past seven days will blow your mind lots of good stuff today and I’ll talk about domination fastest chains a whole bunch of flippening metrics a whole bunch of ma da DTX which is monthly active users daily active users daily transactions Etc why this saw black hole which is always my thesis since 2021 is now really happening and it’s happening fast everything happens fast risk happens fast this whole convergence is happening really fast I’ll also have a little surprise price prediction model that you can play with yourself at the very end and a bunch of ta a bunch of models a bunch of new records and let’s go thank you all for coming again and thank you to the mods in the chat and this is not Financial advice though I do know everybody watching this has a big salana bag so well done you’ve made a lot of money and shout out to patreon to from Jay-Z joining patreon right now thank you that was from this morning and Sir Winston thank you and the team behind me thank you as well let’s get into this I won’t waste your time uh first of all this is breaking news from coin gecko declares that salana has proven to be the fastest blockchain with its actual daily average transactions per second being above 1,500 which is a record high and that compares to number two place of sui about 654 binance 378 polygon 180 and all the way down the list certain names are not there like cardano I don’t know where they are anyway coin gecko please please add cardano next time because the they need to see it anyway let’s look at my model of transactions uh this is the black hole s version uh and this is the last 24 hours of transactions by the way not last week not last month last 24 hours you’ve got Salon up there about 28.3 Million number two Place sui 11 million hey moto and then Tron 6. 7 million near 6.3 million all the way down the line madak is up there 4.2 million Etc and there we do have cardano towards the end about 48 million and by the way salana does about 2,358 more transactions than ICP that is 2,358 times more and about 600 times more transactions than cardano just to talk about how I have was as I’ve always said Winner Takes most now let’s look at transactions by Chain you can see here an interesting Spike from sui what was that all about we’ll break that down in a second but again watch for the consistent plays not the spikes that sometimes track in and then you can see uh where it comes from visually and then daily active uses by CH chain which is also very important you can see arbitrum chasing up salana Sal’s 1.3 million daily active users as of yesterday uh arbitrum 1.2 million binance 1.1 million binance was half a million last week that’s a big shocker by Bitcoin 438,000 ethereum 399,000 sui 391,000 so how come sui have so few users yet so many transactions well there is a thing called a literally a project called spam on Su you can’t make this stuff up and they’re issuing 1 billion spam tokens daily and these tokens are distributed among users based on their participation in the test and the more transactions you send the more spam you earn you know I remember back 20 years ago spam was something you didn’t want now in the crypto World in 2024 yes people want more spam and this is what’s driving the sui transactions and this is the anomaly that’s there and this stuff kind of wears off so you always always when you see a spike like this get into the reason as to why and is it sustainable so that is the SOI spam now we talked about this last week the teev the total economic value which is transaction fees plus Mev well that flipped ethereum woohoo history is made 2.24 eight per day versus 2 million just under 2 million for ethereum and this was kind of a long time coming but interesting that it’s there even though salana is so cheap you do transactions for a fraction of a cent but they make it up in volume that was another old joke from the ’90s with the dot do com boom you know people would be making a loss but you can make it up in volume but literally with crypto it’s different because you actually can make it up in volume as long as you have enough adoption enough users and enough transactions that’s also very interesting now salana also flips Tron uh in the last 24 hours in Revenue generation Tron is a huge Money Maker heavily used for stable coin movements everybody stable coins a little bit of gambling as well and uh salana had 1.65 million in fee generation and Tron had 1.52 million so that’s also a big step up and salana dominates all across the board nfts salana magic Eden you can see here 74% of marketplace trading Revenue 70% of marketplace trading Revenue over the last 7 days and the 24 hours and the last 30 days as well 78% of trading Revenue again Winner Takes most no matter where you point there’s not going to be 10 winners it’s just how the universe works and speaking of another big shocker you know we’ve spoken about okay salana Dex volume yes it has flipped Unis swap a few times but now one one Dex on salana is flipping Unis swap which was the heavyweight 800 pound gorilla for the longest time Jupiter now does 843 million in V versus Unis swap 700 million so again people are getting tired of slowness and cost and they’re moving to different platforms and everything is changing fast and this is kind of crazy too Jupiter volume now in total surpasses 26 billion 26 billion in aggregate over time which is a big big big amount and Jupiter this is this is kind of super interesting because Jupiter again it’s my decks of Choice by the way Jupiter makes $80 million in fees on purpose in total since Inception but when you calculate this 26 billion by 80 million in fees that is 0.3 per trade and that’s why you need to do a truckload of Trades to make it happen and they’ve cracked the code and remember we’re still early in crypto the 1 billion users aren’t here yet but they’re coming fast we’ll talk more about some of those stats now there’s big news coming big news from mert friend of the channel you guys are not ready for this salana summer has not even started so what this basically is about is the Sol State cost reduction because even though salana is the cheapest chain out there the son team think it’s too expensive so they’re going to make it even cheaper I mean this is kind of key when you have something that’s already the best and then you make it better and continue to strive for Perfection that is what you want to be part of now toally chimes in as well if this works it will be the most egalitarian thing I’ve ever seen it will reshape the fabric of society now that is extremely profound thing to say and he’s not one who’s given to exaggeration Etc but he’s likely referring to some proposed change or upgrade which is the state cost reduction and it would be incredibly a galarian I.E provide equal rights and opportunities to the planet and fundamentally change change the structure and fabric of society through crypto basically it would open up the chain for the whole planet if they get the fees to the level which they want I think that’s what they mean I could be wrong but either way they are excited and this isn’t even taken into gun fire dancer now in the and the sa is too expensive well eth is expensive therefore it’s bullish this David Hoffman from eth complaints about L1 gas fees is directly correlated to eth bullishness okay the chain is expensive therefore that’s bullish and then technically David could be right because the more use there is I tried to get something off the chain yesterday from my wallet Avenue since 2021 I still haven’t got it off you know because sorry uh not enough fees not enough whatever wait 15 minutes I it is just excruciatingly painful to use and I don’t mean to dis e but it is unusable but merch once again comes in I mean at least they’re saying the quiet part out loud higher gas fees due to poopy capacity and pricing out others is great for our bags yay this is totally much much better than trafi again head scratcher here we’re not sure what David Hoffman is thinking but slow and expensive I can guarantee you is not the way to go now speaking of speed Jupiter 300 transactions a second that’s how many trades they’re doing 300 for the world it’s faster than all others combined ethereum and all the l2s combined it is doing a truckload of business again Jupiter is a force to be reckoned with and by the way if Jupiter gets to the alltime high market cap of Unis swap we all do very well and in full disclosure I own Jupiter uh now speaking of stable coins SC is my short hand for stable coin salana stable coin passes Tron and ethereum in transactions and amounts for the first time in history since Inception again salana is late to the stable coin party the others have been running it for a long time and this is data aggregated since January 2023 total transactions $1.29 4 billion on salana next highest is $957 million on Tron and stable coin transaction volume 5593 trillion with a t dollars thank you staff for coming these are Bonkers numbers and remember everybody we are early early crypto penetration is like 5% of the planet if that okay a lot more to come and Phantom also my favorite wallet by the way now has 7 million monthly active users and believe me those active users they don’t go into their metamask once a month they’re in it all day some of them doing 50 transactions a day across 7 million people I know we have to get to 100 million and then a billion but it’s getting there slowly but surely and we are still early I think it’s the third time I said that sorry for repeating myself and Phantom now supports Bitcoin and Bitcoin nfts okay the Phantom I think they launched their beta back in December or January and now they’re gradually Rolling Out full support for everybody to buy sell trade send receive and store Bitcoin Bitcoin ordinals BRC 20s with your favorite multi-chain wallet remember the world is multi-chain and people go to the best cheapest fastest most convenient best user experience solution and that is Phantom hence they have 7 million multi active users now there’s another thing happening too uh Mando made me aware of this last week uh Mando are DCA Star new DCA Edition pump revenue and does $4 million in Revenue in seven days and they’re also pumping out 20,000 meme coins a day of course that’s just the nature of the beast but this is hardening the salana chain that’s why it’s good and uh it’s slightly less than the salana revenue itself and it’s as as mer says again salana is not a bad place to build a business as it turns out so more good news now pith we know pith has a big unlock but that doesn’t change the fact that it is heavily used and very very scalable in April alone 2024 pith the Oracle facilitated over 110 billion in trading volume that’s a new all-time high and that’s a lot a lot lot of very very small transactions as well this thing is ready to scale for the world and for real world assets and everything else down the line when the time comes it’s also fast cheap very easy to integrate and far more integrated than the other orino which will remain nameless now nasana uh also our favorite AI play is Paving the way in the tech industry with its econscious approach which is super interesting then their whole approach which is about decentralized compute and they’re catering to Ai and AI development sectors and what they’re doing is harnessing the power of idle gpus across the globe they are introducing their coste effective efficient and eco-friendly alternative to traditional Cloud Computing Services and this initiative not only democratizes access to massive compute power across the planet but also significantly reduces the environmental footprint of data centers h100s are power Hogs they suck up a lot the biggest problem with the h100 from Nvidia is to keep it cool because it sucks in so much power and run so hard anyway that’s n news and Wall Street Wall Street is waking up to SAA and Franklin Templeton report predicts sana’s rise to the third major crypto after Bitcoin and ethereum hey Doc inter good to see you that is interesting not just Franklin Templeton and the old tradire folks but Wall Street bets is now talking about salana summer much much higher so you got the ston Bros now coming into crypto and they’re picking salana first which is interesting as well and this is mind-blowing Robin Hood in Europe shout out to all the Europeans out there I see some of you still up late happy Friday you’re not down the pub yet maybe or back from it so Robin Hood in Europe activates Salon staking okay like literally 2 or 3 days ago and in 24 hours the total value locked on salana goes up 5% just imagine if they were allowed to do the same thing in the US and they will once there’s a re regime change I.E bye-bye Gary see you laters uh that will come again you can’t deny you can’t deny crypto you can try block it but it just makes it stronger and it’s only temporary as well and in other news too Sal’s new new liquidity layer with enshrined lending stable coin and stable swap etc for margin fi this is the first layer that preserves Atomic composability with margin fi and it’s a fundamental uh to everything we do in the world today enabling traders to access liquidity without bridging also to enable everything that you need to do borrowing lending stable coins payments Etc this is also more big news and related to that drift protocol is going to be listed on coinbase of course there’s always a a pump for that one I do not own drift um but again deposits are now open for the token they take in deposits and then they’ll launch it probably sometime in the next week or two maybe even as early as Monday next week now let’s look at some charts and analytics because this is a Quant Channel all right so chart time let’s go first of all on the Ias CP profiler Sol repositories are second only to ethereum in third place is madic and in fourth place polka dot fifth place near and then Cosmos 6 and then down the line but when you look at some of these these new so-called Salon killers and you look at the amount of repositories they have like sui and say on the very far bottom right I mean Elon has more cardano has more than those two so-called killer chains again you for a chain to be successful you need to have breath of daps breath of capabilities and functionalities a lot of stuff integrated out of the box you can build stuff like really good daps that have all the stuff that you need these other chains miss all that and that is so important so there’s a big meaning here in the number of repositories that chain has and in terms of community salana is now second only to ethereum in the number of Twitter followers third place is mad fourth place is near and again some of the others aren’t even anywhere to be seen you need a community and even if you have a better technology a better blockchain if there’s no Community to adopt it and use it and you know talk about it it’s not going to go anywhere or right it’ll just die in a basement somewhere anyway let’s talk about may day as well may for salana has been pretty crazy yes I know April was weak same thing for Bitcoin things came the alltime highs and we all got hammered but talk about a rebound Salon is up 41% in May alone and we are only 17 days in ladies and gentlemen 17 days risk happens fast this is why you buy dips in the bull market and of course we did as well and speaking of another piece of breaking news I mean this week is just been crazy sorry if I’m a little bit excited but salana upside model it’s a free model by the way the team will add it here after the video check it out for yourselves the link will be there but we just flipped 20% of the eth market cap this was in my projections way back in March April 2021 I said one day salana is going to flip 20% of eth’s market cap and we just hit that at $163 ladies and gentlemen woohooo who’s cracking the champagne it’s got to be a bottle breaking open somewhere and next in the box is is 33% of eth market cap by the way the way this model works it takes into account the number of tokens Etc the price of both eth and salana to calculate what the price would be if they reach that assuming the price of eth stays the same so basically if you imagine eth stays flat around 3,000 bucks and Sal goes to 33% of eth market cap the price will be 267 if it goes to 50% of eth market cap be 4 16 bucks and 70% 575 I don’t assume 100% of eth market cap for this bull run however the rate at which eth is shrinking we might have to update the model stay tuned salana on the ATR as well last time I did this week we were on level three now we are on level four how fast this thing moves is stunning just shot like an a level is a large difference you know from 125 straight up to 165 in a big amount and we still have that Buy Signal no sell yet we sometimes will run into a little bit of resistance at level five after that level six level seven Etc but uh we’ll watch that carefully and again nothing goes straight up that’s why we have these lines the levels for support and resistance and other news as well exactly a week ago salana was at 3% dominance 3% on the 10th of May 2024 actually 3.01% I lied today it’s 3.2% and that completely destroys my sandbagged price prediction model because I assumed a 3% Market 3% of the crypto market cap 3% dominance which would take the price if the crypto Mark cap goes to my sandbag prediction of 5 trillion that would take the salon price of 36 3 but now I’ve got a surprise for you all you can screenshot this page check it out for yourselves I’ll share it on patreon later but if you come up with your own crypto market price predictions and your own salana dominance predictions you have your own price Target okay so for example right now I added 3.2% because that’s ex 3.21% right now typical it’s already out of date within an hour so uh but imagine the do dominance remains at 3.2% but the crypto market cap goes to say 7.25 trillion that would take us to a price target of 517 bucks but it gets more interesting and what motivated me to create this is because R Paul friend of the channel as well believes the crypto Mark cap will go to 10 to 15 trillion this bull run that would be 10 trillion be a Forex from here I think that’s a little bit ambitious but if he is right on his bare Target of 10 trillion forget the 15 how to read this price prediction model here you say 10.25 trillion market cap and we remain at just 3.2% dominance that would take the price of salana up to 731 I do believe the dominance will go higher to maybe four or 5% if it does go to 5% and R Paul is right with 10 trillion market cap that’ll be $1,142 salana which completely mind-blowing considering we bought it hand over fist at a very low price in single digits a year and a half ago again it’s been a absolute roller coaster but that’s how markets work and that’s why it’s important to time these roller coasters the lower it goes the harder you buy during a bull market now quick conclusion everybody does my black hole Saul exist absolutely it does thank you all happy weekend see you tomorrow for Bitcoin daily and maybe the recap as well combo package we’ll see hit the like on the way out if you like anything here and uh appreciate the mods in the chat and happy weekend to the 4,000 people watching live thanks all for coming bye-bye [Music]

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0:00 Introduction
1:29 Fastest Chains
2:04 Top Crypto Tx Chains
3:00 Tx by Chain
3:19 DAU by Chain
3:48 Watch for SUI Spam Tx
4:35 TEV Flip Happened
5:27 SOL Also Flips Tron
5:51 SOL Magic Eden Dominates NFTs
6:21 SOL’s JUP Flips UNI DEX on VOL
6:54 Jupiter Total Volume Surpasses $26BN
7:09 JUP Makes $80M in Fees on Perps
7:50 SOL State Cost Reduction – TOO EXPENSIVE?
8:25 Toly Chimes In
9:21 “ETH Expensive Therefore Bullish?”
10:36 JUP @ 300Tx a Second Faster Than All Combined
11:09 SOL SC passes Tron and ETH in TX and Amts
12:00 Phantom 7 Million MAU’s
12:26 Phantom Now Supports BTC & BTC NFTs
13:00 Pump Revenue – $4M in 7 Days
13:36 ORACLE: Pyth Facilitated $110BN Vol in April
14:18 Nosana Eco Conscious
15:10 Wall St See SOL as #3 after BTC and ETH
15:25 Wall St Bets in on SOL
15:42 Robinhood EU Launches Staking – TVL goes up 5%
16:25 First Liquidity Layer Preserving Composability
17:02 Coinbase to List Drift
17:26 IA SCP Profiler – SOL Repositories 2nd only to ETH
18:22 SOL Community Second Only to ETH
18:49 MAYDAY
19:19 SOL UPSIDE MODEL: SOL Flips 20% ETH
20:44 SOL on the IA ATR Model on Level 4
21:19 SOL Dominance 17 March 2024 = 3.2%
21:45 $SOL What if Analysis
22:02 $SOL What if Analysis – Pick Your Own
22:48 RP CMC Target is 10-15T
23:53 Conclusion