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The dynamics of the Crypto Assets market are always fascinating. Recently, Ethereum (ETH) has performed exceptionally well, rising from around $1400 to nearly $3800, more than doubling in value. Behind this surge, there is ongoing support from large institutions such as BlackRock and Grayscale.
However, for ordinary investors, the current ETH price may no longer be attractive. Every bull market has its specific pattern: usually, Bitcoin leads the rise, followed by Ethereum taking the baton. So, who will be the next hot spot? It is likely to be Solana (SOL).
Currently, SOL is in a consolidation phase. There are continuous reports about the SOL ETF in the market, and large investors are consistently accumulating at lower levels, indicating a good situation in terms of funds. The range of $230-250 may just be the initial stage of SOL's rise, and once it starts to surge strongly, its potential could be surprising.
The recent decline of SOL is mainly influenced by the overall market's sell-off of about 80,000 Bitcoins, which is not closely related to SOL's fundamentals. As the negative factors are gradually digested, positive signals are starting to appear on the technical side. The weekly support is solid, and there are signs of increased volume and rising on the daily chart, with strong buying support seemingly around the $175 level.
Compared to ETH, the price fluctuations of SOL are relatively mild. For investors, the key is to find the right low points to gradually build positions and patiently wait for potential explosive market conditions.
In addition to SOL, there are other Crypto Assets worth paying attention to in the market, such as ENA, UNI, and MKR. As Ethereum's trading volume surpasses Bitcoin, the market landscape may be changing. The movements of large investors are also worth continuous attention, as their actions often indicate the future direction of the market.
In this ever-changing world of Crypto Assets, opportunities always favor those who are prepared. Stay alert, pay attention to market dynamics, and you may catch the next wave of rise.