The references provided on the chart are: the BTC and USDT trading pairs. This move typically boosts short-term attention for related projects, especially in an environment where liquidity in the Korean market is relatively strong.

The SOL ecosystem has remained highly active recently, with new projects launching one after another. Both developer and user engagement have clearly increased. On-chain data also shows that, across the ecosystem, interaction frequency and capital accumulation are still steadily growing.

There are also signs that the NFT market is warming up again. OpenSea’s trading volume has stayed relatively high for multiple consecutive days, suggesting that some funds have started flowing back into the digital collectibles track, with sentiment showing signs of repair.

Judging by overall on-chain activity, it’s not just Ethereum—gas consumption and the number of contract calls across multiple major public chains are also on the rise, indicating that market participation is climbing out of a trough.

Worth noting is that institutional funds have continued flowing into infrastructure-related assets recently. Compared with short-term hotspots, large capital seems more inclined to position for underlying technologies that have long-term support.

Personally, I’m more focused on infrastructure like Layer2 scaling solutions and decentralized oracles. They may not always stand in the spotlight, but they are the pillars that keep the entire Web3 ecosystem running stably.

The current market is in a mild rebound phase, with low volatility—better suited for observing structural opportunities rather than chasing after spikes. Over the next few days, you can focus on tracking the real liquidity performance of newly listed tokens, as well as user growth data for projects in the SOL ecosystem.

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