Launchpad competition in Solana has exploded since Q2, but the real winner is the layer that ecosystem projects are inherently locked into, and that’s Metaplex. Our view: $MPLX is priced as Solana’s overlooked plumbing, yet it captures a monopoly fee on every new asset issued. Every mint feeds buying pressure and the roll out of Genesis extends that choke-point upstream, capturing the token-sale itself with a renewed vision for Internet Capital Markets (ICMs).
Crypto swings between narrative-driv...