If you only look at the coin price, it's like this. But if you look at the ecosystem, well, actually Solana is in a more awkward position.
Because Solana doesn't have a very mature development environment, tools, and tutorials like EVM, nor is it as developer-friendly as Move. That's why Solana has become a MEME chain. Because MEMEs don't require development, and even don't require products.
But actually, when PUMP launched, the Solana Foundation wasn't very fond of it. However, since BONK broke into the mainstream, Solana has generally been following the meme route, which is really because Solana is not developer-friendly. GMX said it would launch on the Solana chain, but it hasn't gone live yet, perhaps because it hasn't been developed well. It's not GMX's problem; it's Solana's lack of developer-friendliness.
However, Solana does have an advantage in that it has a U.S. background. In launching ETFs, developing stablecoins, and integrating with traditional finance, Solana has its advantages.
So Solana is really in an awkward position this round 😰
