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Topic: Solana Pump - page 6. (Read 828 times)

full member
Activity: 186
Merit: 253
August 18, 2021, 11:11:35 PM
#5
But yeah, I am curious what could be the reasons for these pumps?
If you look deep into Solana, you'll find out that it's really similar to Binance Smart Chain (BSC). BSC is backed by Binance - a top tier exchange and Solana is backed by FTX - also a huge exchange. Solana ecosystem grows like the way BSC grew with a lot of apps and AMMs. Apparently DeFi is the key to Solana's pumps. I tried Solana. It's fast, cheap but the only thing that makes me annoyed is that I have to let a blank window running to use its wallet.

Not only Solana, many other blockchains also pumped in the last few weeks, such as Polkadot or Terra (LUNA).
sr. member
Activity: 980
Merit: 255
HALA MADRID
August 18, 2021, 11:01:27 PM
#4
What happen with many trader and investor sell Solana coin with lower price, I still remember when joining solana airdrop and got many coin but early to sell, first time when listing on Binance I got about 200 solana coin but not hold yet and sell it on market after listing, but now price up above 470 looks not lucky why have sell early.
hero member
Activity: 2100
Merit: 771
Top Crypto Casino
August 18, 2021, 10:48:12 PM
#3
Some news that I was able to gather for you from Reddit.

Quote
Mango Markets raised $70M + Degen Apes.
Solana's market cap is way too low if you compare it to the competition
Solana Hackathon in India.
Solana Popularity on Coinbase #63 most held.
Solana hits 1 Billion USDC in circulation.

In my opinion, it was supposed to happen someday. I would recommend you to keep an eye on ALGO. It will also pump in the coming days.
member
Activity: 238
Merit: 15
August 18, 2021, 10:01:05 PM
#2
I don't know if it's all speculation but Solana has a big storage problem and when it's used under load, Solana blockchain will grow a lot very fast.
Experts have said it is really hard to run a node, even if you are a coder because hardware requirements, updating and maintaining are extremely difficult.

For example, SEQ has said:

Quote from: SEQ
Another easy way to achieve higher performance is to increase the hardware requirements for running a node, the more hardware resources, the higher the performance, but yet again at the expense of decentralisation.
Solana recommends validators run hardware with 24 Cores, 128 GB Memory, 4 TB NVMe disks, Nvidia 2080 ti graphics cards (4000 cores) and very high bandwidth connections. This limits those capable of running a node though due to the expense, similar to Bitcoin ASIC mining rigs.

Maybe Solana has found a way how to solve it, but I can't find any announce. If it's solved, it would also mean it is solved for all Blockchains because Bitcoin and Ethereum have also storage Problems, you know Bitcoin can only process 10 transactions per second because a block is limited to 1 MB and no more transactions can go in a block.
Big Blockers like BCH and BSV have arrived and now say: "make bigger blocks to get more transactions into a block". At first sight, it is very good because more transactions are now in a block and it has more capacity like 100 transactions per second but at second sight, big blocks are really bad for a blockchain long term.
After let's say 10 years, a big block blockchain is so big and has so much data because blocks are so big, it is very bad for nodes to download and leading to centralisation.
Big block is no solution.

And Solana has an extreme big block blockchain problem because it's fast but has so much data collected over even 1 year, Solana blockchain will grow massively and will become very useless soon because it will get so big.
Storage problem is very bad at Solana if it can't get solved, even more bad like Bitcoin SV.
legendary
Activity: 2282
Merit: 1344
Buy/Sell crypto at BestChange
August 18, 2021, 09:38:54 PM
#1
I am curious for what could be the reasons why Solana pumped hard a few days ago?

If you take a look, in just 14 days, Solana is up 100+%,  7 days is 77% as of now.

I own a small amount of Solana and already tried this network. But yeah, I am curious what could be the reasons for these pumps?
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