Solana is in a place of nothing right now
- Shitcoins going to zero.
- NFTs not moving.
- Nothing hyped to look forward to (no true dates for upcoming launches set yet).
Right now, it's a good time to be liquid and search for NFT projects that will fly in the coming rally for NFTs on Solana. The lack of liquidity going into anything to do with Solana is extremely low. These two factors are a good indicator that the market is bored and people will start itching for the next play. We saw a little rally happen last week, but as expected only lasted for a few days. The excitement in NFTs is dead currently, but other chains - such as BTC Ordinals - are picking up steam with decent gains. I recommend looking for projects that have the potential to reach new ATHs in the coming NFT rally - these being:
- Claynosaurz
- MadLads
- OOGY
- Fidelion
- LILY
- Pilots
These projects have a lot of potential, and the only reason they aren't getting enough volume is because the overall sentiment towards the market is bad. Why invest in something when no one else is? That is the question you got to ask yourself currently. People who buy when everyone else is worried to buy is a key trading tactic that can make you a lot of gains. The way to master this tactic is hard, but look at this current market state for example. Is much going down? no. Is much going up? no. This is the calm before the storm, the revival of activity in NFTs in coming. Find the projects you want to invest in and believe in - not what some shitfluencer told you to buy. Look for catalysts, you can find many through CT, and hyped launches can also be big catalysts (I.E Madlads).
Lastly, I am not saying that right now is a good time to invest, I am providing you with information that is suggesting that this market is flatlined and of course other factors could make things worse - such as market volatility in currency coins. FYI, we have NEVER seen the reaction of NFT pricing going out of a bear market into a bull market. Will people drop NFTs and put all their money into SOL, or other coins, when they see that the market is recovering well? or will the hype come back into NFTs, will sentiment change in a positive light and will people start buying and selling NFTs more as we start leading into a potential bull market? Who knows, I for one cannot answer that question. (I am not suggesting we are going into a bullrun in the coming months, because we aren't. I am just talking about what you should be thinking, as a trader, what will happen with NFTs when a bull market begins).
Good luck with your trading in the coming months, remember to always judge the market conditions before acting on trading NFTs.
P.S Don't ever be a chain maxi, follow where the money goes and for the love of god don't shit on something that is making people money - because you are shooting yourself in the foot for not joining in with it too. Remove the emotion, play the trading game and follow the money.