The big bull market is coming. Can SOL recover from the collapse?
Solana's price has declined significantly recently, but the reason behind it may not be as simple as the market downturn.
Speaking of which, the soaring price of Ethereum may indirectly "involve" Solana, making SOL look like it has fallen. Looking at the trend chart of SOL against ETH, Solana obviously underperforms Ethereum.
Ethereum's price has been rising due to various market benefits, new updates and high popularity.
Although Solana's dollar price may not be so exaggerated, compared with Ethereum, the SOL/ETH pair has declined significantly, making Solana look like it has "collapsed".
This matter should be viewed in this way: in front of market giants like Ethereum, other blockchain platforms, such as Solana, are likely to look inferior once ETH rises sharply. Especially now that Ethereum is becoming more and more popular in the DeFi field, everyone is investing money in ETH, and platforms such as Solana naturally seem less attractive.
However, Solana itself is still a strong project, with active development and many use cases. It's just that compared with Ethereum, it feels a bit "out of favor" for the time being.
If you are confused and don't know what to do, you can follow me and find me by clicking on my avatar. All strategy fans have it. Just to increase followers
