In 7 days, 655,000 SOLs were raised on Solana

[NikeFit_7777]

Creators of shitcoin projects on the Solana blockchain have raised 655,000 SOL (122.5 million$) in just 7 days as a result of 27 presales. The absolute record holder is 0xDekadente, which managed to raise 170,000 SOL.

Source link: https://twitter.com/zachxbt/status/1769948459266707961?s=46

[joniboini]

This takes me back to 2017 when some random ICO can earn millions of dollars just by spamming their ANN thread on forums. I guess we can use this as an indicator that the market is in a bull run or close to it, can't wait to see how hard the drop hit those people though. Maybe this is coming from new retail traders who never had the experience of losing 90% of their capital in one day. Hopefully, they don't use all their money to gamble on short-term profits with those shitcoins and exit way too late. I'm not optimistic about this though, people don't learn.

[rdluffy]

This takes me back to 2017 when some random ICO can earn millions of dollars just by spamming their ANN thread on forums. I guess we can use this as an indicator that the market is in a bull run or close to it, can't wait to see how hard the drop hit those people though. Maybe this is coming from new retail traders who never had the experience of losing 90% of their capital in one day. Hopefully, they don't use all their money to gamble on short-term profits with those shitcoins and exit way too late. I'm not optimistic about this though, people don't learn.

That's something that worries me

Even though now it's probably different due to big BTC hodlers, ETFs and the market being more mature, I'm still afraid of these high values of scams, meme coins and projects like the one that paid several thousand dollars to display a memecoin in Las Vegas
This is usually a sign of a top, where when the market turns, many will lose a lot of money.

I hope I'm wrong

[MrSpasybo]

This takes me back to 2017 when some random ICO can earn millions of dollars just by spamming their ANN thread on forums. I guess we can use this as an indicator that the market is in a bull run or close to it, can't wait to see how hard the drop hit those people though. Maybe this is coming from new retail traders who never had the experience of losing 90% of their capital in one day. Hopefully, they don't use all their money to gamble on short-term profits with those shitcoins and exit way too late. I'm not optimistic about this though, people don't learn.

The emergence of new projects is part of a bull run, and we also had the same thing in 2021 with many new projects in the BSC ecosystem or GameFi, MoveFi projects on Solana. I don't research new projects in the Solana ecosystem, there have been dozens of new projects appearing recently and it's really hard to keep track of and understand all of their solutions and tokenomics.

We also can't stop people from investing in such projects, I hope that the launchpads will work effectively to eliminate scam projects and bring the best projects to the community in the bull run. Investors should also take the time to learn about the project and can suggest specialized crypto websites that review new projects, they will have readers/views and we will have full information about the projects and their potential.

[Mr. Magkaisa]

         -   If 655,000 SOLs were raised in just 1 week, that means that at the current price of 174$ each, it is around 113,970,000$ per week. In short, if that is maintained in a week, within a month it will be around 455M$, raising nearly $1 billion in just three months, and within a year it will be approximately $4 billion more.

Wow, it's also very big; maybe that's why Solana is called the Ethereum killer based on what I read in the other forum where it's being talked about, where its volume is really rare.

[hugeblack]

The recent rise of the Solana blockchain has made some think that perhaps there will be a rise in tokens and the scammer has taken advantage of some people who might invest randomly in order to make a quick profit.
I hope this is a lesson not to follow the wave.

This takes me back to 2017 when some random ICO can earn millions of dollars just by spamming their ANN thread on forums. I guess we can use this as an indicator that the market is in a bull run or close to it, can't wait to see how hard the drop hit those people though. Maybe this is coming from new retail traders who never had the experience of losing 90% of their capital in one day. Hopefully, they don't use all their money to gamble on short-term profits with those shitcoins and exit way too late. I'm not optimistic about this though, people don't learn.

Some projects were so good that it was impossible to know they were scams, so I think scams are now much easier.