Why $SOL is Massively Overvalued (And Nobody Wants to Admit It)
Hear me out before the $SOL maxis attack.
#solana is trading near all-time highs with a market cap over $80 billion. Everyone's calling it the "Ethereum killer" and praising its speed. But let's talk about what nobody wants to say out loud.
the network has gone down. Multiple times. Remember 2022? 2023? The chain literally stopped producing blocks. Imagine if your bank just... stopped working for hours. "But they fixed it!" Sure, until the next time. Decentralization means nothing if the network can be halted.
**It's not as decentralized as people think.** The hardware requirements to run a validator are insane. You need enterprise-level equipment, which means only wealthy players can participate. That's not decentralization—that's just a faster version of the traditional system we're trying to escape.
**The ecosystem is built on hype, not fundamentals.** Yes, Solana has memecoins and #NFTs . But what groundbreaking dApps are actually being built there that couldn't exist elsewhere? Most projects are just chasing the narrative and the VCs who are heavily invested.
**Validators are concentrated.** A huge portion of #sol is staked with a small number of validators, many connected to the Solana Foundation. That's a red flag for true decentralization.
Don't get me wrong—Solana has impressive tech. But $80B+ valuation for a chain that's gone down multiple times and sacrifices decentralization for speed?
That's not disruption. That's just expensive hype.
Come at me.
