Although I do not have high hopes for $SOL in the second half of the bull market, SOL is clearly undervalued at this price. ETH has broken through 4000, and based on normal estimates, SOL should be around 210 to be considered reasonable.

Large holders with ID $SOL have also started to swap their SOO for ETH, it seems they have been convinced by ETH's rise. Many people are confused as to why SOL is so weak in the second half of the bull market???

The reasoning is quite simple: SOL thrived in the first half of the bull market due to meme coins, and it will also decline in the second half of the bull market due to memes. Platforms like Pump, Bonk, and Orca, which are meme coin launch platforms, have made profits in SOL and are now selling, selling, selling in the current market. Meme coin players have earned money but also want to cash out by selling, selling, selling. Ancient whales of SOL, seeing everyone selling and unable to bear the continuous price drop, also start selling, selling, selling. SOL rose continuously in the first half of the bull market because everyone believed that the bull market had just begun and were willing to hold it in anticipation of a rise. Now everyone knows that the bull market is in its later stages, so they are all selling, selling, selling. These three mountains weigh down on SOL, causing its price to remain weak and unable to rise. Currently, Wall Street funds are concentrated in ETH; only when ETH rises to a certain high level and temporarily stagnates will funds spill over to SOL. Therefore, you can see that whenever SOL rises, the overall market quickly corrects. Then, when the market corrects, SOL corrects even more severely, and during rebounds, it cannot reach the previous heights again, forming a vicious cycle. Compared to BTC/ETH, SOL is becoming increasingly weak. For now, we can only hope that SOL's ETF can provide some support.