$SOL SOL, as a representative of high-performance public chains, demonstrates its technical advantages with over 65,000 TPS and transaction costs at the level of $0.001. However, one must be cautious of the centralization risks exposed by multiple historical outages of validators. The ecosystem's explosion benefits from the meme coin frenzy and institutional capital support, with TVL jumping to third place indicating a recovery momentum in DeFi. Nevertheless, attention is still needed on the token inflation model and the risks associated with FTX liquidation. With the advancement of the Fire Dancer upgrade and the improvement of institutional custody solutions, SOL may become the core channel for traditional capital entering Web3, but it must overcome the challenges posed by cross-chain competition with Ethereum L2 and emerging parallel chains.