58,000 million coins punched through and got split into 8 pieces; in the end, it was the court that sold them for him.
In 2017, a Qualcomm engineer wrote his white paper, and in March 2020 the mainnet went live. He only had one thing to do: be fast. Block time of 0.4 seconds, transaction fees of less than a penny—later, all those meme coins flocked onto him.
In those years, his biggest backer was an exchange: the boss promoted him everywhere, and the company’s funds were the number-one holder. On November 11, 2022, that exchange filed for bankruptcy. Together, the two companies held 58.08 million of his tokens, accounting for 11% of the circulating supply at the time, worth $1.1 billion.
Everyone waited for this batch of goods to come crashing down, but most of them were stuck on the unlock schedule and couldn’t move; meanwhile, the managers used them as collateral. What broke was sentiment: on November 5 he was still at $38, a few days later it fell below $15, and on December 12 it reached $8.13—down 97% compared with the 2021 peak of $259.
That batch was finally distributed like this: in 2024, the court auctioned 41 million of the tokens that had been locked up at $64 per coin to Galaxy Digital and Pantera Capital, with unlocks scheduled for 2028.
The accounting is easy. If you entered when it was $8.13 on December 8, 2022, then the 1,000 U you put in would be 14.5 thousand U based on today’s 118.25. And if you entered on the cheapest day in May 2020 (at $0.5008), now it’s 236 thousand U.
Today it’s $118.25, with a market cap of $69.438 billion, ranking seventh. It’s still 59.7% away from the January 2025 high of $293.31. Large-holder long positions make up 70.69%, retail long accounts 63.43%—and the side with more money is even more willing to buy. The daily MA20 (104.87) is holding underneath; 1-hour RSI14 is 60.30. Resistance overhead is 119.99, support below is 115.53—leaning bullish in the short term.
Now is the early stage of a bull market, with gold everywhere. Hold long-term—at the current price, $SOL small lots can get in. Buy more as it dips; buy more as it drops. Small buys on small declines.
$SOL #Crypto market total market cap returns to $3 trillion
In 2017, a Qualcomm engineer wrote his white paper, and in March 2020 the mainnet went live. He only had one thing to do: be fast. Block time of 0.4 seconds, transaction fees of less than a penny—later, all those meme coins flocked onto him.
In those years, his biggest backer was an exchange: the boss promoted him everywhere, and the company’s funds were the number-one holder. On November 11, 2022, that exchange filed for bankruptcy. Together, the two companies held 58.08 million of his tokens, accounting for 11% of the circulating supply at the time, worth $1.1 billion.
Everyone waited for this batch of goods to come crashing down, but most of them were stuck on the unlock schedule and couldn’t move; meanwhile, the managers used them as collateral. What broke was sentiment: on November 5 he was still at $38, a few days later it fell below $15, and on December 12 it reached $8.13—down 97% compared with the 2021 peak of $259.
That batch was finally distributed like this: in 2024, the court auctioned 41 million of the tokens that had been locked up at $64 per coin to Galaxy Digital and Pantera Capital, with unlocks scheduled for 2028.
The accounting is easy. If you entered when it was $8.13 on December 8, 2022, then the 1,000 U you put in would be 14.5 thousand U based on today’s 118.25. And if you entered on the cheapest day in May 2020 (at $0.5008), now it’s 236 thousand U.
Today it’s $118.25, with a market cap of $69.438 billion, ranking seventh. It’s still 59.7% away from the January 2025 high of $293.31. Large-holder long positions make up 70.69%, retail long accounts 63.43%—and the side with more money is even more willing to buy. The daily MA20 (104.87) is holding underneath; 1-hour RSI14 is 60.30. Resistance overhead is 119.99, support below is 115.53—leaning bullish in the short term.
Now is the early stage of a bull market, with gold everywhere. Hold long-term—at the current price, $SOL small lots can get in. Buy more as it dips; buy more as it drops. Small buys on small declines.
$SOL #Crypto market total market cap returns to $3 trillion