Bankless Is SOL Undervalued? 83% Discount to ETH? | Michael Nadeau
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Jul 17, 2024 
Michael Nadeau, a crypto analyst who focuses on on-chain fundamentals, dives deep into the contrasting worlds of Solana and Ethereum. He discusses why Solana's current price is an 83% discount compared to ETH and whether that disparity is justified. The conversation highlights the importance of data-driven analysis, user engagement metrics, and fee structures. Nadeau shares his price predictions for both assets and explores how shifting market dynamics, like institutional interest in Ethereum, might shape future trends in the crypto landscape.
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Fundamentals-Focused Analysis
- Michael Nadeau analyzes crypto assets based on fundamentals, like daily active users and fee revenue.
- He avoids technical analysis, tribalism, and focuses on objective data.
Solana's Discount to ETH
- Solana's price relative to ETH is being analyzed based on fundamentals.
- The report questions if Solana's 83% discount to ETH is justified.
Fundamentals in Bear Markets
- Fundamentals are easier to grasp in a bear market, revealing sustainable projects.
- Start with data analysis, even for meme coins, to uncover underlying fundamentals.