The cryptocurrency market has recently shown significant volatility, with Solana's re-staking protocol Solayer launching a governance token and establishing a foundation, demonstrating the project's commitment to ecological development. VanEck's research director stated that the probability of the Solana ETF listing in the U.S. in 2025 exceeds 77%, injecting more expectations into the market. Furthermore, Terraform Labs co-founder Do Kwon appeared in court in the U.S. for the first time and pleaded not guilty, raising concerns about compliance. According to the latest data, Solana is highly favored, with a net inflow of $13.2 million, while Ethereum experienced an outflow of $11.1 million, reflecting changes in investor sentiment towards different projects. Meanwhile, the European Central Bank plans to lower interest rates to 2%, which may further impact market liquidity. Market dynamics indicate that despite facing a contract liquidation of $209 million, overall sentiment remains active, with some funds flowing into emerging projects. Combining information from various sources, the current cryptocurrency market is in a stage of adjustment and opportunity, and investors need to carefully navigate market fluctuations. Overall, the cryptocurrency market presents a complex and diversified trend.