The crypto market faced heavy pressure overnight. The continued impact of the Mt.Gox incident depressed market sentiment, and BTC pulled back to the 66k area to seek support. Against this background, we focus on the competitive landscape of the new public chain track, especially the competition between Solana and Ethereum (ETH).
At the end of last year, the cautious attitude of Messari and other institutions towards ETH and the optimistic expectations for Solana actually reflected the strategic adjustment of Wall Street capital after the collapse of FTX. These institutions suffered heavy losses due to their heavy positions in Solana, and then adopted a two-pronged strategy: on the one hand, using political influence to promote the crackdown on competitors, such as the legal challenges faced by Binance founder Zhao Changpeng; on the other hand, it was a self-rescue action, trying to reshape Solana's market position through market manipulation and public opinion.
Solana's "counterattack" story, from the bottom of 2022 to the surge at the beginning of this year, has become the focus of market discussion. Behind it, there is no lack of joint market manipulation and favorable concoctions by Wall Street capital. However, in this process, doubts about the nature of Solana's technology (such as its reliance on centralized sequencers) were deliberately downplayed, replaced by the clamor of "Solana surpassing Ethereum".
Today, although Solana has ranked among the top cryptocurrencies in terms of market value, its size gap with Ethereum is still significant. There are constant voices advocating Solana in the market, but investors need to remain rational and beware of the risks of market bubbles and human manipulation. In the financial market, information is often carefully packaged to influence public perception, and true value judgments need to be based on in-depth technical analysis and market understanding.
As for whether Solana can really become the next king of public chains, or just a short-term prosperity under the capital game, time will be the best tester. While chasing hot spots, investors should pay more attention to the long-term value and technical potential of the project to avoid becoming "leeks" that are cut.
