Solana Good and Salmon Meh? Crypto Analyst Casts Poll on X

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SOL ETH New Levels
  • Crypto Community users opt-in for Salmon over Solana projects in a Twitter poll.
  • A total of 44% voted for Salmon, while 43% voted in support of Salmon and Solana.
  • Solana has recently launched many projects and partnerships to bolster activities on the network.

Crypto analyst Adam Cochran, in a recent post, asked the Twitter crypto community to decide between Solana and Salmon. In the poll posted on Tuesday, he explained that Salmon refers to cooked Salmon while Solana refers to existing Solana DeFi projects.

At the time of writing, the poll garnered close to 1,350 votes, with many users pitching their tent with Salmon. 44% of the users voted that Salmon is good while Solana is meh. However, 43% also cast their support for the two, that both Salmon and Solana are good.

The result of the votes mirrors the pervading sentiments about several crypto projects following the prolonged market slowdown. The recent market correction has also infused FUD, causing users to hold onto their money rather than dabble in crypto projects.

A recent report revealed that the Total Value Locked (TVL) on crypto projects has dropped to a historic low of $37.78 billion. Per the report, this is even worse than what was recorded during the FTX and Terra Luna crash. Of the $37 billion, over $1 billion of it is locked in Solana projects. The stability of the TVL on Solana has provided some relief to the DeFi community.

Meanwhile, the project recently announced a slew of partnerships and launches to improve the network. Some days ago, Solana announced the integration of its Solana Pay on Shopify. The integration will allow merchants and entrepreneurs to use crypto payments.

Similarly, the network announced the launch of its Solana ChatGPT plugin. The plugin allows users to monitor their balances, transactions and explore NFT marketplaces easily. Furthermore, Solana saw the launch of its euro-based stablecoin courtesy of Membrane Finance. The new stablecoin will allow euro-denominated card payments, encourage foreign exchange, and other viable use cases.

Elsewhere, Solana’s price continues to post underwhelming performances, according to data from CoinMarketCap. Over the month, SOL, the ninth-largest cryptocurrency, has declined by 17%. At the time of press, the token is trading at $20.33.