$SOL

DS Random Writing The current trend of SOL is simply like it has been equipped with a rocket booster, with prices soaring from $120 to $180 without any pullbacks. But on-chain data tells a completely different story — although prices are hitting new highs, the actual daily active addresses on the network have decreased by 15% compared to last month. This level of divergence has only occurred three times in SOL's history, each time followed by a flash crash of over 30%. Strangely, over 40% of the trading volume comes from five market maker addresses from the same exchange, which are precisely controlling the market every minute like puppeteers.

Institutional players are playing a dangerous game, as a certain hedge fund has been revealed to hold $200 million in long SOL contracts alongside equivalent put options. This contradictory hedging strategy exposes the deep anxiety of large funds towards the Solana ecosystem — despite the impressive NFT and DeFi data, the network's history of seven outages last year has deterred institutions looking to make long-term investments. The most dangerous signal now is that the SOL/BTC exchange rate suddenly surged to 0.0035, a level that coincides with the peak of the 2021 bull market, and at that time, SOL fell back to the starting point in just two weeks.

(A memo circulating within the developer community states: Solana Labs is secretly testing 'shard-style validation nodes,' which is equivalent to admitting that the current architecture cannot support millions of TPS...)