Interpretation of good news:
① The current market value of SOL is nearly 71 billion US dollars, surpassing BNB again and ranking fourth, second only to BTC, ETH and USDT;
② The Brazilian Securities and Exchange Commission approved the first Solana spot ETF, which will start trading on the B3 exchange within 3 months.
③ SOL/ETH hit a new record high again, breaking the previous high of 0.0591 in March, indicating that SOL's overall recent increase is far greater than ETH. It can be used as a reference indicator for our trading strength and weakness, and can also be used for arbitrage transactions, such as buying SOL in the short term and shorting/selling ETH with the same position. In the later period, when the exchange rate rises and the deviation is too large, buy ETH and short/sell SOL with the same position;
④ Top traders said that when looking back on the 2023-2024 cycle, they will unanimously call it the SOL super cycle. Judging from the price trend, it is almost the only major currency that has a substantial repricing relative to any trading pair on a high time frame.
