"The quality of decision-making depends on the information you have and your ability to process that information.
--- Ray Dalio, founder of Bridgewater Associates -- (Principles)
The price of Bitcoin has recently experienced some volatility, following a rise with subsequent corrections. In the past 24 hours, nearly $334 million was liquidated in the crypto market, affecting about 200,000 traders.
However, it is worth noting that the Bitcoin weekly closing price remains high, with a return rate of about 9.66% last week. With the correction of Bitcoin, its decline in dominance has provided room for other altcoins to rise.
Solana (SOL) has reached a new high, while the SOL/ETH ratio has also hit an all-time high, and the SOL/BTC ratio is slightly below the historical peak level of the first quarter. We have clearly expressed the view of being 'strongly optimistic about Solana' in many articles released earlier - Solana has surged from $8 to over $260 in this cycle, setting a historical new high!
The DEX trading volume of Solana has significantly surpassed that of Ethereum. Its fees and revenue have also exceeded Ethereum for the first time.
ETP flow data shows that funds have continued to flow in over the past month. With multiple Solana spot ETFs listed in the US, market attention on Solana and other L1 chain projects has risen again, and these assets are gradually attracting the attention of mainstream investors.
Note: All content represents the author's personal opinion, not investment advice, and should not be construed in any way as tax, accounting, legal, business, financial, or regulatory advice. You should seek independent legal and financial advice, including advice on tax consequences, before making any investment decisions.
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