Solana might be flipping BNB intern of protocols

[TalkLiz00]

Solana is like home of memecoins, infra, and now maybe NFTs again with the way many good projects and protoclols are using Solana as their blockchain,

If the hype keeps up after reaching $200 + aiming for another ATH, i think MPLX could become another giant in the ecosysrtem, came across it when Bingx announcement of listing it, and i did a smol dig into what the project has for us, Feels like the infra is solid, but token utility still unclear for most users. Maybe that’s why it’s been quiet despite the numbers.

i think most of this project and protocol lose their value once their goal and utility is not clear to it's users, in my opinion anyways, what do you think about it ?

[nelson4lov]

What token or platform is MPLX? Is it metaplex? If yes, I don't know about the project as I only heard about it recently and it has something to do with NFTs on Solana. I'm not sure that's a big deal because NFTs are never getting the hype they had before but I'd agree that Solana is a force to be reckoned with and I wasn't surprised for one bit that solana surpassed BNB token in both marketcap and FDV earlier this week.

[TastyChillySauce00]

The coin itself has been stuck with 170m FDV for quite a while and it has existed from 2022, the utility is also minimal.
If we're talking about giant in the solana ecosystem there are plenty already and most of them are focused on defi instead of infrastructure.

I prefer to bet on lending/dex/perp dex platform than an infrastructure project.

[TalkLiz00]

What token or platform is MPLX? Is it metaplex? If yes, I don't know about the project as I only heard about it recently and it has something to do with NFTs on Solana. I'm not sure that's a big deal because NFTs are never getting the hype they had before but I'd agree that Solana is a force to be reckoned with and I wasn't surprised for one bit that solana surpassed BNB token in both marketcap and FDV earlier this week.

Yeah, MPLX is the token for Metaplex the main NFT infrastructure on Solana. It hasn’t made huge noise lately, but with Solana gaining serious traction again, it's starting to resurface. Interestingly, it just got listed on BingX, which probably explains why more people are noticing it now. You’re right though Solana flipping BNB was well deserved.

[gunhell16]

What token or platform is MPLX? Is it metaplex? If yes, I don't know about the project as I only heard about it recently and it has something to do with NFTs on Solana. I'm not sure that's a big deal because NFTs are never getting the hype they had before but I'd agree that Solana is a force to be reckoned with and I wasn't surprised for one bit that solana surpassed BNB token in both marketcap and FDV earlier this week.

This MPLX is unlikely to reach 1$ more, because its total supply is only 1 billion, and its circulation is around 800 million more anyway. But I hope it will be listed on other
well-known exchanges that are in the top listings in the market.

Although, there is still risk involved because we know that with altcoins, the volatility is really high and we do not know when there
will be an aggressive move in its volatility.

[Akbarkoe]

The coin itself has been stuck with 170m FDV for quite a while and it has existed from 2022, the utility is also minimal.
If we're talking about giant in the solana ecosystem there are plenty already and most of them are focused on defi instead of infrastructure.

I prefer to bet on lending/dex/perp dex platform than an infrastructure project.

Yes, Defi is the largest on Solana because they provide and serve as a crucial bridge for every transaction activity. Infrastructure is complementary but not overpowering. I don't think MPLX is a concern because it serves as the primary channel/main infrastructure for meeting community needs.

Isn't being a LP more attractive, and the benefits can be varied?

[lifeisnoteazy]

The coin itself has been stuck with 170m FDV for quite a while and it has existed from 2022, the utility is also minimal.
If we're talking about giant in the solana ecosystem there are plenty already and most of them are focused on defi instead of infrastructure.

I prefer to bet on lending/dex/perp dex platform than an infrastructure project.

Yes, Defi is the largest on Solana because they provide and serve as a crucial bridge for every transaction activity. Infrastructure is complementary but not overpowering. I don't think MPLX is a concern because it serves as the primary channel/main infrastructure for meeting community needs.

Isn't being a LP more attractive, and the benefits can be varied?

Yeah, DeFi is definitely the backbone on Solana everything flows through it. MPLX plays its part as key infrastructure, but it's not trying to overshadow the rest. Being an LP can be attractive, sure, especially with the right incentives, but it really depends on the risk/reward you're comfortable with.

[nelson4lov]

The coin itself has been stuck with 170m FDV for quite a while and it has existed from 2022, the utility is also minimal.
If we're talking about giant in the solana ecosystem there are plenty already and most of them are focused on defi instead of infrastructure.

I prefer to bet on lending/dex/perp dex platform than an infrastructure project.

Not just the utility but also the industry that they're focusing on: NFT tooling.

We all know that NFTs are dead and any team still trying to push the narrative for more NFT adoption is just burning their runway instead of pivoting to a much better protocol with better vslue proposition that would help drive revenue.

See protocols like hyperLiquid, AAVE are the best so far because they're sustainable at this point from just revenues. Where's the revenue from nfts? The fees from sales or fees from the projects using their tooling that wouldn't be able to sell out?

[passwordnow]

....could become another giant in the ecosysrtem

Okay, I have to stop reading more about it from here.

i think most of this project and protocol lose their value once their goal and utility is not clear to it's users, in my opinion anyways, what do you think about it ?

Well, that is true. If there is no value to the project, why would investors spending money on it? But with the meme coins, even they're useless projects, as long as there is something in it and valuable based on the volume that it has got, traders and investors flock there but it's dangerous because everyone could lose their money there.

[Akbarkoe]

The coin itself has been stuck with 170m FDV for quite a while and it has existed from 2022, the utility is also minimal.
If we're talking about giant in the solana ecosystem there are plenty already and most of them are focused on defi instead of infrastructure.

I prefer to bet on lending/dex/perp dex platform than an infrastructure project.

Yes, Defi is the largest on Solana because they provide and serve as a crucial bridge for every transaction activity. Infrastructure is complementary but not overpowering. I don't think MPLX is a concern because it serves as the primary channel/main infrastructure for meeting community needs.

Isn't being a LP more attractive, and the benefits can be varied?

Yeah, DeFi is definitely the backbone on Solana everything flows through it. MPLX plays its part as key infrastructure, but it's not trying to overshadow the rest. Being an LP can be attractive, sure, especially with the right incentives, but it really depends on the risk/reward you're comfortable with.

I see MPLX does have a pretty big vision as an infrastructure for creating tokens and NFTs on the Solana network based on Onchain, with it perhaps becoming easier, seeing the data I read they generated $36 million from 900 assets that have been created and $10 billion for transaction value, this may be interesting, but whether it will survive or not, all projects will be tested after entering a bear market, where there are many projects that have fallen.

[bitgolden]

SOL definitely looks like more preferred compared to BNB these days. One of the benefits of SOL is that it has high TPS while keeping security, and still staying decentralized. While it is not the most decentralized chain ever (we have seen the team freeze it) it's still better than BNB where all of the controls are at the hands of Binance itself.

So when people are making a new token, they would prefer something that is cheaper, faster and more decentralized at the same time. I have some, but not a lot. I have both but I keep a bit more SOL than BNB, by just 25% or so nothing major but I keep more SOL showing that I am liking it better too. It's just simple mathematics and how things work, nothing about any "news" or anything like that.