Solana network is capable of handling all types of transactions and its slowly being adopted by institutions too.
But then what's stopping it from skyrocketing in price ? Right now, it's going for laid back rally just staying in the range around $75.
Too many sellers. The entity such as Pump and Fun was rugging people and they dumped 800m USD worth SOL, and it's still continue. It's getting worsen with how scammers in this meme launchpad is also doing the same by rugging retails and destroy sol potential to reach new ATH.
Although it's still traded in very high ROI, but its ecosystem ain't healthy for long term.
Is it because people are still worried about past network outages and centralization of validators ?
It's already patched. So there will be no more outages.
What do you guys think is the main blocker here for a real explosive breakout to new ATH for SOL ?
Solana meme launchpad is the problem here. SOL will not hit new ATH as long as its dumpers still exist.
Is it the tokenomics or may be competition from ETH or just overall market sentiment holding it back ?
Its ecosystem is the reason that holding it back from moving up.