#solana
$SOL
Someone asked me: "Why are you bearish on SOL? Can you tell me the reasons for being bearish on SOL?"
I answered like this:
Firstly, SOL is highly dependent on the primary market. Ever since Trump launched his own Trump Coin, SOL has experienced unprecedented major benefits. At that time, it attracted many people to flock into the SOL ecosystem, all wanting to engage in primary market operations. But now, can we still expect Trump to issue another coin? That is definitely unlikely.
Secondly, in SOL's primary ecosystem, there hasn't been a coin that can make people rich overnight for a long time. Those veterans can only repeatedly hype up the old stuff, completely lacking freshness. Without new opportunities for wealth in the primary market, new entrants outside won't be attracted, and naturally, there won't be new funds flowing into SOL.
Thirdly, you can take a look at the relevant data. What has happened to those coins that once made people rich on the SOL platform? Take Trump Coin as an example, it has dropped from over 80 to just over 10 now; Squirrel Coin has fallen from over 2 to about 0.2 now, with a low of 0.16. Even though it has risen a bit now, many people still say it is about to take off. With so many examples, it’s hard not to have doubts about the SOL ecosystem. It makes 90% of people feel that SOL is like a game that is played out in a week, with the week's trend completing what mainstream altcoins should do in a year. While this approach may create an expectation of rising among users, it also creates an expectation of falling.
Fourthly, let's talk about the support aspect. CZ's personal traffic has been strongly supporting BSC, while Four, which is also a primary launch platform, has taken away the liquidity of Pump (possibly referring to the liquidity of SOL or similar things). On one hand, there are no new players coming in, and on the other hand, liquidity has been taken away by Four. For a platform like SOL, which is highly dependent on the primary market, this is undoubtedly a heavy blow. Moreover, the coins in the SOL ecosystem are still continuously falling, which is certainly not good news for SOL.
