Author: Haotian Source: X, @tmel0211
Recently, compared to the steady rise of ETH, SOL's performance has been a bit lackluster. $4,300 vs $175, what hidden secrets lie behind this price difference? My personal understanding is that, at a deeper level, it is a covert battle about "who is the darling of institutions."
1) ETH has obtained a "pass" to enter the traditional financial world - after the ETF approval, the cumulative net inflow has exceeded $10 billion, allowing off-exchange funds to enter compliantly, which is equivalent to opening a front door for institutions.
The application for SOL's ETF is still pending, and the current situation indicates a lack of funding channels, which directly affects price performance. Of course, this can also be interpreted as SOL still having room for a rebound, as the SOL ETF is not completely out of the picture; it just needs more time to go through the compliance process.
The key is, ETH