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ALLEF
Remember when $SOL was supposed to be right behind $BNB?
Not long ago $SOL was trading near 300 and sitting comfortably in the top 5 by market cap. People were actually talking about it flipping $BNB.
Fast forward to today and the story looks different. Price is hanging around 73. Market cap has slipped to rank 7. It is now just over half of $BNB's market cap. And it just printed its 10th red monthly candle in a row. That is a decline we have not even seen during the FTX collapse in 2022.
Here is the frustrating part. The fundamentals have not quit. The network is still running hard with hundreds of millions of transactions every day. ETF inflows for $SOL are still coming in steadily. The usage is there. The price just refuses to match it.
Can $SOL get back in the race with $BNB? Maybe. But based on where we are now, that comeback probably has to wait for the next full cycle to play out.
The chain is strong. The market just has not rewarded it yet.
#MSFT450BInADay #AMZNMissesButRallies #Ethereum11Years
