Although Solana is facing a dual squeeze from Ethereum Layer 2s (such as Base, zkSync) and emerging public chains (such as Sui, Aptos). Its core competitive advantages are:
Developer tool friendliness: Support for Rust language and a low gas fee environment attract a large number of application layer innovations.
Institutional-level infrastructure: Deep participation from market makers like Jump Trading ensures liquidity depth.
Long-term challenges that need to be addressed include the damage to trust caused by the network's historical downtime, as well as the sustainability of balancing decentralization and performance.