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This is helpful! Even if there's no hype around MNDE, with TVL it's still 1/22th the market cap of it's competitor. Having more ambitious roadmaps definitely do have an impact. Do you also think there's more utility around Jito that leads to such a price discrepancy? For example, it might be weird to see Rocket Pool overtaking Lido in market cap if Lido has more TVL.
Combination of: - MNDE launched last cycle so is still down in the dumps and no longer hyped. - Jito aims to do more ambitious stuff than Marinade. Marinade just stakes your tokens and passes on the staking rewards in the value of the token. Jito have also written their own validator client that makes MEV, takes tips and bundles transactions, etc. And now working on a restaking protocol as well.
There are some VCs and funds thinking crypto's valuation comes from selling order flows to fuck users. Remember the Robinhood GameStop fiasco? I am talking about that kind of situation. In crypto, we call this value extraction, MEV, JITO validators run an MEV extraction program. So I think JITO buyers are expecting JITO to be more profitable than MNDE, that focus more on decentralization.
Jito's undiluted market cap is $3,613,035,593 MNDE's undiluted market cap is $167,116,291 Jito's market cap is 21.62 times bigger despite the same TVL. Which is why I'm a little confused when looking at the fundamentals? Jito does have more liquidity but that doesn't quite warrant valuing one 22 times more than the other
Media token is very interesting I’m expecting this to pop in the coming bull run MNDE or marinade. Both of these are medium cap I’d say by now but sure they will at least 20 -50x imo do your own research
Phantom is a wallet and and fairly certain they're not gonna have a token (just like MetaMask). Marinade already has its own governance token MNDE. As for others, I completely agree. Add Meteora & Jupiter in there as well.
Yes, my thoughts exactly. Marinade has been around way longer, more SOL locked in, and its 1/4 the MC of JITO? Either JITO in massive overvalued speculative bubble or MNDE way undervalued.
No, unless someone can give me a good reason why Jito (JTO), the second biggest liquid staking platform on Solana, should have 4x the market cap of Marinade (MNDE), the biggest staking platform on Solana. https://defillama.com/chain/Solana
De fuc is MNDE and why is it up 33%?!
MNDE another pump and dump by Coinbase. At this point CB is not better than any other youtuber, sad
tldr; Marinade (MNDE) and Marinade Staked SOL (mSOL) are now live on US-based digital asset exchange Coinbase. The two cryptocurrencies are listed under the experimental asset label, which the exchange assigns to riskier cryptocurrencies with low trading volume. MNDE is up 244.92% over the past 24 hours, while SOL is up 0.33%. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I am not sure how much to trust Coinbase's views. It seems to be saying one thing and doing another. We go all in to buy MNDE and MSOL, only to have them dumped on us. I am not so keen.
>Coinbase says its customers can now trade the altcoins Marinade (MNDE) and Marinade Staked SOL (mSOL) on its platforms following an earlier announcement that it will add these low-cap coins to its catalog of supported cryptocurrencies. Its MNDE and mSOL for those that want a TLDR
MNDE boys having a good day