SOL is a shitstorm waiting to eat your money

what are people's opinions of Solana these days?

I personally still think it is hot trash that's propped up by VC money. A lot of the wrapped assets on the chain like WBTC were minted with backing held at FTX and that backing has since gone down the toilet. It feels like it's only a matter of time until the insolvency of those assets becomes more apparent. The bill comes due!If all the WBTC were to be moved from the SOL chain, the on-chain liquidity for its counterpart would not exist to cover the amount in circulation there and the peg would be lost.

The tech has been a long-running joke in the defi community and while recent updates are an objective improvement, it's still miles behind ETH and many of its layer 2 rollups.

I am amazed at the amount of bullish sentiment i see around SOL tokens, can someone make me understand how this token is not destined to fuck me out of my money if i go near it?

FTX still holds hundreds of millions of these tokens and will likely liquidate them to cover debtor obligations. It feels like people are flocking to become exit liquidity for this inevitable sell-off because of some short-term low liquidity pumps. I see that FTX custody party has staked about $130 million of its SOL to try and ease these concerns but who the fuck cares when they hold over $1 billion worth of this shit coin and need to sell sooner or later.

seems like money is moving into the ecosystem to attract short-term speculators to help bolster the available liquidity so that FTX can get a better price for when its time to sell.

Im short sold and averaging down the short on this pump, fuck this token lol