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I just realized there's something interesting about Solana. Its technology is actually very solid, but why does its price seem to lag behind? Just look at the movement of Magic Eden, the largest NFT marketplace there, which continues to grow within the Solana ecosystem. This shows there is great potential that hasn't been fully utilized yet.
Currently, SOL is trading at $85.60 with a market cap of around $49.28 billion. The number is stable, but compared to the momentum of the existing technology, it should be higher. The question is, is the market really ignoring Solana's strong fundamentals, or is there a legitimate reason why investors are still skeptical?
Magic Eden itself is a good indicator for this. The platform shifted its focus to Solana because they see long-term potential there. If they are confident, the market should start paying attention. But yes, many factors can influence sentiment. It could be that the market is still waiting and watching, or there are concerns that haven't been addressed yet.
Clearly, if Solana can continue to maintain its technology and the ecosystem keeps growing like Magic Eden shows, this could be an interesting setup to watch. Not everything that is fundamentally strong is immediately reflected in the price, but usually the market eventually catches up.