Lightspeed
Solana's Total Economic Value Keeps Reaching New Highs | Dan Smith
Nov 20, 2024
Dan Smith, Data Lead at Blockworks Research and a former podcast host, shares his insights on Solana's economic landscape. He discusses how Solana's total economic value is hitting new highs, the dual effects of inflation on stakers and non-stakers, and the strategic shifts happening within its economic model. The talk also delves into the significance of community engagement and recent developments like Say Network's V2 update. Overall, it reflects on moving from speculative investments to practical applications in cryptocurrency.
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Quick takeaways
- Solana's recent revenue surge, comparable to Ethereum's past peaks, raises concerns about sustainability and user retention amidst fluctuating market trends.
- The distribution of revenue within Solana's ecosystem, where 70% reaches token holders, highlights the importance of economic incentives like staking for long-term growth.
Deep dives
Ethereum and Solana's Revenue Comparison
The current revenue figures for Solana have drawn comparisons to Ethereum's past performance, particularly in November 2021, when Ethereum regularly surpassed $100 million in daily revenue. As of now, Solana has achieved a similar milestone over a week, driven predominantly by the activity surrounding meme coins, which reflect a gambling-like trend similar to last year's NFT market. This shift in user engagement raises questions about sustainability and retention, as the explosive growth previously observed in NFT transactions may not have a lasting impact on Solana's overall ecosystem. Understanding how Solana can maintain momentum amidst these fluctuations is crucial for its future growth.
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