What you see on a chart is how much of a development effort was flowing into three distinct projects - Aptos, Solana and Internet Computer:
Which project you believe in?
We can see that CZ-SBF drama related talks in crypto social media has been super high yesterday. However today it doesn't seem so tight:
This is a brief overview of topics trending in crypto social media according to Social Trends:
- Monero - https://www.reddit.com/r/CryptoCurrency/comments/q0hx4v/monero_is_so_completely_private_the_irs_has_a/
- Jets - https://www.espn.com/nfl/story/_/id/32333364/zach-wilson-flashes-big-play-ability-get-1st-win-new-york-jets-beat-tennessee-titans-ot
- Texas - https://www.forbes.com/sites/jasonbrett/2021/10/02/texas-poised-to-be-a-world-leader-in-bitcoin-and-blockchain/
- SOL, floor - https://twitter.com/0x_fxnction
- Citadel, citizen, square - https://twitter.com/ZssBecker/status/1437848854712438785, https://twitter.com/ZssBecker/status/1437944263485108227
- Revolut - https://twitter.com/APompliano/status/1437825462479343624
- Solana - https://www.coindesk.com/markets/2021/09/15/solana-mainnet-back-online-after-day-in-the-dark/
- Gary - https://www.coindesk.com/policy/2021/09/14/sec-chair-gensler-coinbase-should-register-with-regulator/
Everyone and their mother is talking about SOL's new all-time high push - and that might be a problem.
According to data from 1000+ social channels, SOL-related mentions are the highest they've ever been in the past 48 hours, signaling growing retail euphoria about the coin:
In fact, SOL is the top word in our Social Trends today, gaining more ground on crypto social media than any other narrative in the crypto market:
Unsurprisingly, the average mood of these mentions is now overwhelmingly positive, as Solana's Weighted Social Sentiment already sits at its highest level since March:
According to several backtests of our social metrics, a top 3 placement on our Social Trends + extremely bullish sentiment are both common markers of market euphoria and, by proxy, approaching price tops.
Is SOL due for a short-term correction?
P.S. we also made a watchlist of all coins in the Solana 'ecosystem'. Stay safe out there.