Moonshot has 400K new users (insanely impressive!) != 400k new users onchain

A lot of people took yesterday's @chainalysis report to suggest that the TRUMP token was a mass onboarding event, primarily because 50% of TRUMP/MELANIA token holder wallets were net new to SOL altcoins, but that continues to make the same wallet/user fallacies and misses the… https://t.co/vbghaMW8Qa

Disappointing data here.

Seems like less than 1% of the users who came in through Moonshot to buy TRUMP/MELANIA are doing anything else on-chain. 

If this was the Olympics, the tourists are not doing anything else in the city before they leave. Basically ~1% GDP retention.

Haseeb ＞|＜

🤔👀

https://x.com/hosseeb/status/1883466906080088478?s=46&t=rxAVkMPnT_8alZYrwLqp6g

Solana isn’t “crypto” it’s a database. 

Majority of Solana transactions and wallets are one time use. Because it’s not a real chain.

@hosseeb This isn’t atypical.

Majority of Solana active accounts are only used once. https://t.co/a6LrCFRB2T

Nelson → TWC 🌎💻

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

Solana isn’t “crypto” it’s a database. 

Majority of Solana transactions and wallets are one time use. Because it’s not a real chain. 

https://x.com/nelsonmckey/status/1883483445869019491?s=46

growth @teller coming soon @clarity





























































hosting /kieran /usdc /loans /disclosure 🛸