After playing SOL for a year, I discovered a phenomenon: if the number of holders of a coin continues to increase, but the market value has been stagnant, then the coin is likely to fall sharply. These are the lessons I have learned after countless losses.
This situation is called chip distribution in the traditional market, which simply means selling at a high level. MEME coins continue to emerge on SOL. This is not because the SOL chain is better than other chains. Many of them are the result of human manipulation. It only costs one or two hundred million US dollars to create a few seemingly powerful "air coins" (that is, coins with no actual value), and people will flock to them when they see the opportunity to make money.
This may be the reason why the SOL Foundation is better than the ETH Foundation. They do not use funds for innovation, but for on-chain operations (such as building Pnut). The same is true for SUI, with a false market value, small investment, but large shipments. Americans with a long history of finance are indeed better at this kind of capital operation.
Let's look at the ETH Foundation. It only knows how to sell products every day and then invests money in scientific research, but turns a blind eye to market dynamics. This is the main reason why the ETH price has been weak.
So from an operational perspective, there is a world of difference between the two. But from a traditional valuation perspective, the bubble of coins such as SOL and SUI is obviously larger than that of ETH, because the evaluation of bubbles mainly depends on innovation capabilities and the current on-chain ecology.
If you are a long-term investor like me and don't have the mentality of wanting to get rich overnight, then the cost-effectiveness of holding ETH at this stage may be higher than SOL.
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