Solana has arrived in Shanghai
Solana Foundation chair Lily Liu held the first Capital Markets Summit in Shanghai. On stage, she said that 50,000 domestic small and medium-sized businesses were waiting in line for IPOs, and that the market cap of listed companies was only one-sixth that of their New York counterparts. But a look at the business registry showed that the company named “Shanghai Solana” is wholly owned by an individual, with absolutely no connection to the Solana Foundation. It’s just borrowing the name.
At most, the summit hype could push SOL up to its previous high. On-chain TVL and perpetual funding rates haven’t followed suit. When market-maker depth is thin, breakouts are fake; anyone who chases in is just helping the whales pump their bags. A pullback and shakeout is the main scenario.
Those of you holding SOL, share your cost basis. Would you still dare to add to your position at this level?
$SOL $BTC $ETH
Solana Foundation chair Lily Liu held the first Capital Markets Summit in Shanghai. On stage, she said that 50,000 domestic small and medium-sized businesses were waiting in line for IPOs, and that the market cap of listed companies was only one-sixth that of their New York counterparts. But a look at the business registry showed that the company named “Shanghai Solana” is wholly owned by an individual, with absolutely no connection to the Solana Foundation. It’s just borrowing the name.
At most, the summit hype could push SOL up to its previous high. On-chain TVL and perpetual funding rates haven’t followed suit. When market-maker depth is thin, breakouts are fake; anyone who chases in is just helping the whales pump their bags. A pullback and shakeout is the main scenario.
Those of you holding SOL, share your cost basis. Would you still dare to add to your position at this level?
$SOL $BTC $ETH