Is SOL in the end? Core information for the third quarter announced

Anatoly 2025-11-17 17:43 34797人围观 SOL

1) Market trend The market overall rose, with the Dow, S&P 500 and Nasdaq futures rising. The Bitcoin spot ETF had a net outflow of US$1.11 billion last week, continuing three consecutive weeks of net outflows. The market value of the crypto market h

1) Market trend

The broader market rose overall, with Dow, S&P 500 and Nasdaq futures rising. The Bitcoin spot ETF had a net outflow of US$1.11 billion last week, continuing three consecutive weeks of net outflows. The market value of the crypto market has evaporated by US$1.1 trillion in 41 days. Tom Lee: It is suspected that one or two market makers have a major "gap" in their balance sheets.

Viewpoint: The correlation between Bitcoin and U.S. technology stocks has reached a new high since 2022, with the correlation reaching 0.54.

Recent hot topics: Qian Zhimin, the main criminal in the 60,000 BTC money laundering case, bought the average price of 2,815 yuan. A hearing on the disposal of frozen assets involved in the case will be held tomorrow.

2) ALPHA information

(1) The activity of the privacy network Zcash mainnet has increased significantly, and the average number of daily transactions has increased by more than 1,300% compared with before the currency price increased. ($ZEC)

(2) There are only 4 protocols left in the entire DeFi ecosystem with a TVL (total locked volume) exceeding US$10 billion, namely:

Aave (approximately $31.059 billion)

Lido (approximately $26.481 billion)

EigenLayer (approximately $12.656 billion)

Binance staked ETH (BETH) (~$10.848 billion)

(3) SOL treasury companies and ETFs hold more than 24.2 million SOLs, worth approximately US$3.43 billion. ($SOL)

3) BTC\ETH trend chart

The picture above is the 4H trend chart. Indicator (1) uses the Fibonacci sequence, and each level (color) is a support or callback level. Indicator (2) Super trend, indicator on the right, below the trend chart, green represents an upward trend, and red represents a downward trend. Indicator (3) RSI, if it is close to 30% oversold, it may rebound and rise, if it is above 80%, it may fall back and fall. Indicator (4) draws its own line channel to determine whether it is out of trend.

When trading on the right side, we usually look at the large-level cycles first, and then look for opportunities that match the large-level cycles from the small cycles.

4) Solana’s third quarter core of 2025

Solana has solid fundamentals and is still the leading general-purpose high-performance public chain. It is affected by the ebb of Meme in the short term, but its long-term competitiveness has not been shaken by new chains.

1. Technical advantages

Core upgrade implemented: Alpenglow’s confirmation speed is <150ms, Firedancer’s potential TPS exceeds 1 million, and its performance is ahead of competing products.
Successfully withstood the stress test: Pump.fun raised $500 million on-chain in 12 minutes, better than some centralized exchanges.

2. Data on the chain

Highlights: TVL grew by over 26%, stablecoin supply nearly tripled from the beginning of the year, and SOL grew by 28% quarterly.
Under pressure: The ratio of on-chain fees to market capitalization has fallen by more than 60%, stablecoins are in the "second tier", and DEX/DeFi has a net outflow priced in SOL.

3. Ecological dynamics

Main growth driver: pledge product TVL growth rate exceeds 50%, but profitability is weak.
Innovative projects: Titan_Exchange, xStocksFi, etc. performed well, and many projects received financing from well-known VCs.

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