The counterfeit market is going through a phase of cleaning up the bubbles: During the pandemic years (2020 to 2022), the world was madly printing money, causing everyone to perceive money as too easy to come by. Many people believed that salaries should rise by 20% every year, that investing in American stocks should yield a 30% return annually, and that the cryptocurrency market should see a few projects worth over a billion dollars emerge each year—now looking back, these were all bubbles inflated by too much money.

At that time, the policymakers faced difficulties; they were like acrobats walking on a tightrope, trying to find ways to gradually cool down the false prosperity during the pandemic without making too much noise. However, Trump's return to power was like suddenly breaking through a paper window, causing those asset prices that had been inflated by the floodwaters to come crashing down, quickly returning to their true value range.

The process of deflating these bubbles is indeed painful, akin to tearing a bandage off a wound; a swift action can be more thorough. In fact, the crashes in the cryptocurrency market earlier last year (where new coins were halved and then halved again) were typical scenes of bubble deflation. When FTX collapsed and LUNA crashed, those crypto companies that had thrived on easy money should have been eliminated, but they were kept alive by venture capital and false data.

At this rate, if there are no major reversals in the future (such as interest rate cuts), it seems we will continue to squeeze out the excess liquidity until the bubbles inflated in previous years are completely deflated and all asset prices are returned to reasonable levels. This process, while painful, is akin to bringing down a fever for a patient; only when the fever subsides can true health be restored.

It is estimated that by 2025, the liquidity of Solana (SOL) should reach 450 million SOL. If it experiences another increase of 2.776%, its market capitalization will reach 138.8 billion USD, resulting in one SOL priced at 308 USD.

The only regret is Ethereum; the regret is not about the price but the market share. No one expected its market share to be this poor during this round, and its consolidation time has exceeded one year.

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