In the past year of playing with SOL, there is a phenomenon that the number of holders of a coin is constantly increasing, but the market value has been suppressed and not rising, which basically means that it will fall sharply. This is all the experience gained.

This is called chip distribution in the traditional market, and to put it simply, it is high-level shipment. A steady stream of MEME coins appear on SOL. This is not because this chain is much more powerful than other chains. Many of them are also operated artificially. Just spend $100 million or $200 million to create a few big awesome local dogs, and people will see the wealth-making effect and come one after another.

This may be the cleverness of the SOL Foundation compared to the ETH Foundation. They take the money but don't innovate, but spend money to figure out the operation on the chain (such as artificial Pnut). SUI also uses the same method in this wave. The market value is inflated one by one, and small money is used to produce large goods. Playing with these patterns is still played by the Americans with hundreds of years of financial history.

Looking back at the ETH Foundation, in addition to selling goods every day and spending money on scientific research, it pretends not to see the market. This is also the main reason why the coin price has been so weak.

So from an operational perspective, one is in the sky and the other is on the ground, but from a traditional valuation perspective, it is clear that the bubble of SOL, SUI, etc. is greater than that of ETH. The bubble mainly evaluates the innovation ability and the current on-chain ecology.

If you are a long-termist like me, not a short-term get-rich-quick mentality, maybe the cost-effectiveness of holding ETH is higher than SOL now.