I'm a big user of Solana apps. They're much easier to use than Ethereum on a smartphone. I'm also glad SOL price is back above $150. Honestly, I made money with it. But there's a big unlock cliff coming... In March 2025.

Solana's ties to FTX/Alameda have been a significant concern, especially since FTX/Alameda owned about 10% of Solana’s token supply. This includes 7.5 million SOL tokens set to unlock on March 1, 2025. However, experts believe these tokens are likely to be locked up for years due to complex bankruptcy proceedings.

Despite this threat, Solana's DeFi ecosystem looks healthy, and the meme coin narrative is still working (although I'm fed up with it...).

Developer sentiment remains positive. A recent survey showed that a majority of developers are still solely focused on building on Solana. The number of developer repos and unique programs has increased over the last two years, indicating ongoing development.

Furthermore, Solana's infrastructure is robust, with thousands of validators distributed across more than 35 geographic locations. The network uses the popular Rust programming language and has become EVM-compatible, which is attracting more Ethereum-based applications - e.g., Sky,  formerly MakerDAO.

Solana's NFT markets are also thriving. Magic Eden, the largest NFT platform on Solana, has seen healthy user activity.

Additionally, Solana is venturing into physical infrastructure projects and gaming. Helium, a blockchain-based network for IoT devices, successfully migrated to Solana, providing a vote of confidence. The Solana phone and mobile stack also differentiate the ecosystem, offering a new distribution mechanism for crypto-native apps.

In summary, while there are challenges ahead, Solana's vibrant and well-funded developer community persists.

However, the March 2025 unlock cliff isn't just about FTX holdings...

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As usual, this is not financial advice. DYOR.