GM HEARTLAND |
Nothing warms my heart (and $SOL) like some blatantly speculative hype. |
—El Prof, Muhammed & Chad |
MONEY MONEY MONEY
TOKEN | PRICE CHANGE | PRICE |
---|---|---|
Solana ($SOL) | +7.54% | $182.11 |
Helium ($HNT) | +18.94% | $5.28 |
Pyth ($PYTH) | +7.96% | $0.39 |
Solend ($SLND) | +121.31% | $0.83 |
(Price changes reflect past 7 days as of 7.26.24)
The Solana Maxis are hyper than a child polishing off a 2L of Sprite before bedtime. Read on for (maybe) why.

Is a Solana ETF Next?
The degens in these Twitter Streets (or is it “X Avenues” now?) sure seem to think so.
It helps that typically crypto-agnostic fund manager Franklin Templeton came out as full-blown Solana Maxi this week, calling the ecosystem and token one of the most “exciting and major developments that we believe will drive the crypto space forward.”
Exciting? Of course. But is it realistic?
In the DeFi world, 2024 has been the year of crypto exchange-traded funds (ETFs). Indeed, it wasn’t long ago that a Bitcoin ETF didn’t seem realistic. But a wave of approvals by the SEC in January opened the floodgates, and now spot Ether ETFs have begun trading, too.
But Solana, a high-performance blockchain platform, has yet to follow suit. In fact, this same week, BlackRock’s crypto chief splashed cold water on the prospect of a spot SOL ETF, citing lack of liquidity and maturity.
That hasn’t done much to slow the bulls though. This may be because Solana’s distinctive features, characterized by high speed, scalability, and low transaction fees, position it as a compelling candidate for ETF inclusion.
The platform’s robust ecosystem and growing adoption have already attracted significant attention from retail and institutional investors. Several key factors contributing to this sentiment include:
Exposure to High-Growth Asset: Solana’s potential for significant value appreciation aligns with investor desire for high-growth opportunities.
Diversification Benefits: A Solana ETF can offer diversification advantages within a broader cryptocurrency investment portfolio.
Regulatory Clarity: Increasing regulatory frameworks for cryptocurrencies could enhance investor confidence in Solana ETFs.
Of course, the development of a Solana ETF is not without its challenges. Market volatility, regulatory uncertainties, and the competitive landscape pose significant hurdles. However, these challenges also present opportunities for innovative product design and risk management strategies.
Overall, the confluence of factors, including Solana’s technological prowess, growing investor interest, and evolving regulatory environment, suggest a promising outlook for Solana ETFs.
And hey, in light of recent events, shade from BlackRock might ultimately be an endorsement.
—Muhammed
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Me, Discovering a New Meme Coin Pump
Would a meme coin by any other name sound as sweet? In a literal sense, no. “Shitcoin” doesn’t exactly inspire the same enthusiasm. $SKIBIDI coin though? It’s not too far off, and yet, might be onto something.
For those not in the know, Transformers director Michael Bay is set to base a movie on Skibidi Toilet, a viral animated series by YouTube sensation DaFuq!?Boom! that mostly features a chorus of heads popping out of toilets to sing “skibidi” in musical fashion. Naturally, there’s already a shitcoin for it.
It’s not alone. There’s a bustling corner of the meme coin ecosystem already based on viral YouTube content. For example, early on, $CORN captured my heart — and wallet — as it was based on a 2005 YouTube video that defined my childhood in much the way Skibidi Toilet has caught on with the kids today.
Now, Charlie the Unicorn and his Candy Mountain are a little more plot-driven than the nightmare-logic-based work of DaFuq!?Boom! But it was YouTube’s early days. By 2012, my viewing habits had degraded to the level of “Drinking Out of Cups” and thinking, “I’ve got it going bossa nova, no way, no way”.
(If you aren’t following my train of thought, I’m just backtracking through what got my wheels turning, so hang in there.)
Memes are universal for the recognizable content they produce, whether images, gifs, or quippy phrases. But it’s not this iconography that makes them, well, iconic. Rather, it’s the subtle truths they convey that make them stick.
Was Charlie the Unicorn just cynical, surreal humor? Or was it commentary on the black market for human organs and its relationship to the drug trade? What was “Drinking Out of Cups”, if not the absurdist train of thought of an acid tripper, visualized? And as for Skibidi Toilet, well, what would be a more incisive send-up of today’s culture than shit coming out of the sewer made more palatable with the power of catchy chunes?
The same factors translate to a good meme coin: Trends with legs to stand the test of time, and with the power to rise again and again, like a song stuck in your head, or a head stuck in your sewage pipe.
Now, is $SKIBIDI destined for a pump-and-dump, or just an eternal flush? Hard to say. But we’re not handing out fish, just fishing rods. Understanding the swirling motion of memes (and their tokenized equivalents) is the key to making money on them.
—El Prof