Why Solana is a bad deal: trader explains
Jonah — a popular Twitter account of a pseudonymous crypto trader — made waves this week with a scathing Twitter thread explaining why he believes Solana’s future prospects look grim. In his Oct. 18 tweet, Jonah kicked off the thread by claiming Solana has a “structural oversupply of blockspace” and its speed advantage won’t matter for years. He went on to criticize Solana’s ties to FTX, Jump Trading, and Multicoin Capital, suggesting their plan to “watch your transactions and systematically frontrun them” is a major red flag. Further, Jonah argued decentralization is critical in crypto and centralized entities like FTX cannot be trusted, especially after recent events. He predicted developers will avoid building on Solana while FTX dumps tokens, stifling innovation. You might also like: Lido Finance to stop Solana support while Cardano prices fall, new project unveils staking program Technologically, Jonah believes Solana’s ...