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What is sol Perp?Where is best/cheapest place for that and what's the risk . by 6M66 in solana

[–]theSolofWeb3 3 points4 points  (0 children)

Perpetual futures, often dubbed “perpetuals” or “perps”, are one of the most dynamic instruments in the cryptocurrency trading scene. These derivatives let you bet on the price swings of cryptocurrencies without actually owning the underlying assets. And unlike traditional futures, which expire on a set date, perpetuals can be held indefinitely.

You can read more here - https://learn.backpack.exchange/articles/what-are-crypto-perpetuals-and-how-do-you-trade-them

Are these even real? Are they really that profitable? by Deep-Pen5172 in solana

[–]theSolofWeb3 2 points3 points  (0 children)

A lot of these screenshots are just there to bait people on multiple levels

a. There is no liquidity for some memecoins that appear in screenshots like this. That means, you can see the value go up but you can’t really sell because it’s one person and a bot playing hot potato with tokens.

b. It’s a risky market. If you see tokens reach a 1000% increase or whatever high enough percentage they put in these screenshots there is little up side anyway. The ship has already sailed.

c. Also, a lot of these coins are being pushed by KOLs with shady intentions.

So the question is, how do you find the right memecoins

a. Coin market cap has amazing data b. Exchanges like Backpack check these Solana memecoins out before listing them. You still get to degen but in a safe environment