Kyle Samani Declares Web3 Dead, Shifts Focus to DeFi and DePIN
- Web3 Vision Collapse: Kyle Samani, co-founder of Multicoin Capital, asserts that the broad vision of Web3 has failed to materialize, with only decentralized finance (DeFi) and Decentralized Physical Infrastructure Networks (DePIN) showing real traction, indicating a significant decline in industry confidence.
- From Advocate to Realist: Once a vocal supporter of Web3, Samani's recent comments reflect disappointment in blockchain applications, stating that blockchain is merely an asset ledger that will reshape finance but falls short of broader expectations, highlighting a shift in his perspective prior to leaving Multicoin.
- Potential of DePIN: He emphasizes that DePIN, which leverages blockchain tokens to coordinate and incentivize real-world infrastructure deployment, remains an area of interest, particularly in wireless networks, data storage, and computing resources, underscoring its strategic importance for future developments.
- Industry Identity Crisis: Samani's remarks resonate with concerns raised by StarkWare CEO Eli Ben-Sasson, who announced a company restructuring, indicating a shift from a
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 70.681 | 74.895 | 79.071 | 83.285 | 87.461 | 91.675 | 95.851 |
| Fibonacci | 74.895 | 78.1 | 80.08 | 83.285 | 86.49 | 88.47 | 91.675 |
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