

Lightspeed Cross-Post: The State Of Solana With Carlos Gonzalez Campo
Aug 4, 2025
Carlos Gonzalez Campo, an Analyst at Blockworks Research specializing in Solana and crypto markets, joins to explore the complex dynamics of the current crypto landscape. He discusses Solana's surprising price movements compared to Ethereum and the implications of the POMP ICO on liquidity. The conversation delves into the challenges Solana faces in attracting stablecoin liquidity and its competition in DeFi. Additionally, they examine recent upgrades that enhance transaction processing and the impact of decentralization on the network's future.
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Solana's Price Signals Ecosystem Strength
- Solana's price rising to $186-$187 signals fundamental strength despite underperforming ETH recently.
- Its resilience through events like the POMP ICO shows improved ecosystem health and potential growth for DeFi apps.
Ethereum's Stablecoin Network Effect
- Ethereum retains dominant stablecoin liquidity and DeFi market share, which is hard to replicate.
- Stablecoin network effects create significant stickiness and attract TradFi attention, reinforcing ETH's position.
Lower REV Challenges Price Narrative
- Solana's on-chain revenue (REV) has decreased, contradicting price trends linked to activity.
- Market activity shifts like declining meme coin trades impact revenue metrics, indicating nuanced price drivers.