When I was originally buying solana:6GmAFSYs4gk3FDao5FzzySQpPZaWsa4rUJHacpMpUNgx ~$5m mc, my thesis revolved around two core pillars
1. RWA becoming an overarching narrative on Solana ✅
2. Revenue quietly burning away all circulating supply ✅
Both of the above have accelerated since my original thesis with an added layer of resilience and social proof.
Similarly to where we were a month ago, the market is still not pricing in durability for this protocol.
The way I see it, this narrative isn’t going anywhere, and
@LaunchOnSF has definitively won the RWA vertical, and produced more runners than any other launchpad we’ve seen recently.
Many outside factors are holding this down, and consensus is far from being behind this Trade. Ironically, it reminds me a lot of solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn prior to its recent run.
Pump traded below a P/S ratio of ~2.5x earnings at the bottom. I was also banging the drum on that trade.
Same trade, just more multiples on the table. News flash, both Stonk and pump can (and most likely will) coexist.
Beachball underwater. Still the most undervalued and compressed token from a P/S perspective
Comfy.