[This clip from Ansem came out over a year ago, yet the thesis aged well] “What drove Solana in 2024 was the wealth effect.” “Jupiter airdrops to core users.” “An influx of capital from other chains.” “Pump definitely drove a lot of new people onchain.” The 2024 SOL memecoin cycle came from three forces moving together: > Jupiter airdrops recycled capital back into users’ hands > Fresh liquidity rotated onto sol from other ecosystems > Rising prices attracted more traders, builders, and creators onchain Each wave of new participants generated more activity, which attracted even more capital. @blknoiz06 also pointed to the next catalyst long before it happened: A breakout consumer app capable of onboarding millions of users. @Pumpfun ended up becoming one of those catalysts. The next cycle needs another event that creates wealth, attracts new users, and keeps capital moving onchain. That’s the flywheel worth watching.