I don't think most realize what's at play this time. Never in the 3+ years history of $SNEK has it been in a position where $ADA has this much upside, being at just $0.14c as of a few days ago.
As always $ADA pumping feeds the 🐍, and this time around $ADA has a whole lot of ground to work with.
Let's ride.
The bears have had their moment for far too long, it's time for the bulls to shine.
The fun is about to begin.
Drop a 🐍 if you still believe in cardano:native and snek:native
More and more signs point to the bear market nearing its bottom. It's been one hell of a rough year for many people, and I'm sure you've all felt it on your timeline. It might not be over yet, but if it isn't, I believe we're close.
When we started noticing these signs last summer, we decided to downsize our operations to reduce risk for @snek and delay the launch of some special projects. Launching new products in an environment where everyone is hurting and frustrated is likely to waste the opportunity to make a real impact. Sometimes the smartest thing to do is simply wait.
All that to say, we used the past year to strengthen our brand and solidify our foundation. We have one final piece to launch soon in that regard, something I've been working on for the past eight months alongside many others. After that, with a healthier market environment and our expansion plans back in motion, I truly believe the sky's the limit for $SNEK, and that we'll be back at our ATH before long.
P.S. Memecoins are often among the first assets to react to a shift in market sentiment.
With nearly 8M ADA in liquidity across ADA, NIGHT, and USDCx, and thanks to the widespread use of arbitrage bots and multi-hop routing, snek:native captures a share of the trading volume from virtually every sizeable trade involving top ecosystem tokens.
100k USDM → ADA: ~3.5% routed through snek:native
100k USDCx → NIGHT: ~2.6% routed through snek:native
1M ADA → NIGHT: ~6.7% routed through snek:native
As ADA appreciates against the USD, snek:native's share of that volume will grow naturally.
More volume. More burns.