Wrapped Solana (SOL)

Inflation is outta control. Three sushi rolls for 1 $SOL 😮‍💨 https://t.co/EAUy7yhi42

These words should not come from a platform product leader, especially since this product leader is also an advisor to @solana.

X, as the world’s most important real‑time information and discussion platform, has product decisions and public statements that carry significant public weight and influence. Nikita Bier, as Head of Product, however, summarized the entire crypto industry with the emotional, label‑laden phrase “All the rich people have left, only American teenagers are forcing poor people to do shameful things,” which is unprofessional and lacks constructiveness.

More importantly, there is a conflict of interest: serving as an advisor to Solana, whose ecosystem heavily relies on retail users, meme coins, and active on‑chain interaction. He publicly disparages “retail noise” and “teen behavior,” yet advises a blockchain project that depends heavily on those very users, making it hard not to question his neutrality.

Even taking a step back, despite crypto being in a correction phase, its actual contribution to the X platform is far from negligible. According to Grok data, about 25 million users interact with crypto‑related content daily, accounting for roughly 10–12% of X’s total daily active users.

Crypto‑related accounts also have an average engagement rate higher than the platform’s overall average (approximately 4.2% vs 2.9%). Even during a bear market, these users continue to generate substantial impressions, Premium subscription value, and advertising ecosystem activity.

When a senior executive responsible for platform product experience publicly “judges” a vertical industry that still contributes significant traffic and vitality to the platform with such an oversimplified negative narrative, it not only harms the crypto community’s trust in X’s algorithmic fairness but can also be perceived as “eating from one’s own bowl while criticizing the pot.”

The above commentary comes from Grok!

The majority of alt coins like $SOL broke down during the big sell off on Friday. If you want to get bullish there needs to be a significant rally and reclaim of lost support. Dip and rip bear trap scenario. There are some nice bounces today, but not enough to convince me the selling has stopped.