2021 was undeniably the year of Solana. And there are people who have made fortunes. It literally went 100x Shocking even the most hardcore believers, but it's 2022 now and things are different. So I'm wondering the Solana still have 10x potential or as the bound for more pain after already dropping 80% from its all-time high. Well, to answer this question, we've got to look at three things in particular Solana’s, past, present and future in just a minute we're going to look at all the bullish things going on and Solana land but first we got to start with a couple of problems that began in the past but still have not been resolved yet.

 The first is all the network issues. They have faced college DDoS attacks, network congestion, whatever. All I know is that this was not a one time event. It's been happening ever since they launched and I count five to 10 separate incidents, depending on how you slice them without getting too deep into the details. I think a big reason why this happens is because of their network architecture. Solana optimizes for fast and cheap transactions, which is great, but unfortunately that allows people to spam the network. Like when there's a hot NFT moment, people create bots that spam the network with 1000s of transactions to try to claim the NF T's. They can do that because gas fees are so incredibly cheap.

 But the problem is the network gets clogged up validators cannot operate anymore, and everything just stops working the problem got so bad that a few weeks ago, we saw Solana validators consider banning certain smart contracts to reduce spam and the network. That's definitely not the right solution because that's straight up censorship which goes against the very core of blockchain, but I understand why they're so desperate to find a solution. Because whenever the network crashes, it stays down for hours, if not days, and that could be catastrophic for defy users. If someone has defi loans on Solana, they may get liquidated if they're not able to top off their loans in time. This isn't just some theory, by the way it happened to Solana users during the January outage and a lot of people got wrecked for no fault of their own. So that's why I think this is an existential crisis for the team to fix. I don't know what it's going to take maybe adding a fee market or switching to a modular design, but whatever it is, they have to fix this before the next Bull Run or Solana. will never be able to take that next step.

Now the second issue that worries me is there tokenomics. Remember this chart from a sorry that shows Solana having one of the worst insider concentrations out there, close to 50% of their initial token supply was allocated to insiders. If you look at their token supply curve, we see that the biggest unlocks are behind us, which means that insiders have had an opportunity to dump their tokens. Surprisingly, the price of soul did not dump when those unlocks happened, most likely because the insiders and whales were benevolent and bullish. But here's the thing they got in at such a low price that they're still up like 100x Even though we dropped 80% from all time highs. So during the prolonged bear markets, I expect him to take profits aggressively which would be terrible for us holders who bought in at much higher prices. But I don't want to dwell on the past because this video is about So long as future after all, so let's move to the present and look at the state of Solana.

In terms of Solana metrics, they're looking quite healthy Solanas total value locked is sitting at over $4 billion, even after a six-month bear period. And their number of validators has grown to over 1700 from 1300 at the beginning of the year, but more importantly, their stake concentration has been improving steadily. This is measured by the Nakamoto coefficient, and theirs has increased to 24, which means that they're more decentralized than before. Speaking of staking, if over 73% of their available tokens staked which is one of the highest compared to his peers. And lastly, through developer growth has also topped the charts per the most recent electric capital developers report. I think a big reason why their metrics are doing so well is because their NFT scene is absolutely popping. Just look at this. They're second only to Aetherium in terms of sales volume, and in the past 30 days, they've done over 300 million and NFT sales, their unique buyers chart is also trending up and to the right one explanation for this is that Solana offers low fees and fast speeds which is what the people want. But I think another explanation is that there's a lot more quality marketplaces that support Solana these days like open sea and RedBubble both started supporting Solana nfts Recently, then there's magic Eden, a Solana native marketplace that's doing quite well even FTX launched her own marketplace, which supported Solana from the beginning. So with all these options out there, it's no surprise there. NFT sector is still poppin despite the bear market, it's not only NF T's though, Solana has seen a bunch of high profile integrations across the board, like Coinbase started listing Solana tokens. For the first time ever in January brave decided to integrate Solana into their browser allowing their 42 million users to access Solana daps seamlessly Phantom, the popular browser wallet for Solana is doing amazing as well. They surpassed 2 million users recently and reached a $1 billion dollar valuation after the most recent fundraise so Coinbase brave phantom all of these are helping grow the activity and adoption across the Solana ecosystem. But remember the point of this video is to analyze how Solana will perform this year. So far we've looked at the past and present and the only thing missing is the future. Specifically there are three things in particular that we're looking out for this year. First are all the hot projects launching in there, like stepping