Day one was pretty impressive and changed how I view this asset.
On Day 2, the big surprise is that Fire Dancer is now live on Mainnet.
Nobody saw this coming so early, especially after the day before when they were talking about FrankenDancer.
Coinbase and Wrapped Bitcoin were big announcements on Day 2. There was also a lot of stuff around launches of new tokens, DEX action, crazy flash trades, etc.
The new validator client for the Solana blockchain has officially launched on the mainnet.
This is an extremely innovative new stage for the network, meaning it can now process 1 million transactions per second. They are now miles ahead of all the other alternative chains. It is very similar to how Tesla is positioned against its competition.
The launch of FireDancer is a pivotal moment in blockchain history and technology. This changes the whole game and is now all about adoption. Toly stated that they fully transition out of beta status once they get 30% of validators who also start accepting this new client.
When I started the channel in early 2021, this was the ETH killer for me and I have spent three and a half years fighting FUD.
The biggest source of FUD is the claim that the Solana blockchain always goes out and does not work. This piece of FUD is now dead.
My investment thesis is that the winner takes the most and here is a chart from the IA SCP Profiler that shows you the percentage of ETH market cap.
Solana is now at about 22%, with everything else underneath the 4.5% threshold. I share this because a huge part of my investment thesis in this asset was based on this in the first place.
I have never been more bullish on this asset than after this conference.
This is the IA Upside Model that I put together back in 2021 based on the actual price of Solana tied to the market cap of ETH. The model is free on TradingView, so just search SOL Upside and you can pop it into your own Tradingview and configure it yourself.
Before the conference, I thought we should easily hit 33% of the ETH market cap. Now, I think 50% of the ETH market cap is a sandbag forecast. Per the SOL upside model today, that would take the price of Solana to exactly $333. Remember, that assumes the price of Ethereum stays the same. Of course, in a bull market, everything will go up.
If we go to a $5 trillion crypto market cap, that should take the price to at least the $350-360 range.
You get $10 free credit for Jupiter ramping for tying it into Apple Pay, Google Pay, or your credit card. These guys will drive a ton of adoption across so many different categories.
There is a reason why, back in 2021, my dream was to have a platform like Jupiter. It did not come until 2023.
Now, it is
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