The current market is declining, but there are so many positive factors supporting it, especially the expectation of interest rate cuts, and both $BTC and $ETH have been "reassured". BTC has already reached a historical high, and ETH is also close to hitting a new high.

Next, we’ll see what the Federal Reserve does. Even if we assume that there will be no interest rate cuts in September, the trend of easing cannot be stopped. We are likely to enter an era of lower interest rates than since 2022.

Speaking of $SOL, the elder brothers have already been reassured, and now the only "exception" is SOL. In fact, compared to BTC and ETH, the funding volume for SOL's version of MicroStrategy is really small, and its market capitalization is also small. We just need a SOL ETF to pass for the "third party" to be legitimized.

Additionally, the proportion of SOL token holdings has been quietly increasing over the years, backed by a large amount of US funds.

Another noteworthy data point is the Herfindahl index of $SOL, which measures the proportion of network addresses in the current supply, indicating the concentration of chips. A high index means a few large holders dominate the market; a low index means a more even distribution of chips. Just look at the chart and you'll understand.