SOL's rise is not a sentiment rebound but a structural capital reflow.

Recently, SOL's strong upward movement appears to be a price rebound on the surface, but in fact, it is a structural capital reflow. Unlike the previous cycle that relied solely on emotional hype, this round of SOL's increase is clearly accompanied by: on-chain activity rebounding, DEX trading volume expanding, and ecosystem projects strengthening simultaneously. This indicates that funds are not just short-term "buy and run," but are reassessing the value proposition of Solana.

From a market perspective, SOL is in a very favorable position: on one hand, it has fallen deep enough in the last bear market to complete risk release; on the other hand, it has been the first to verify that "high-performance public chains still have narrative space" in this cycle. While the ETH ecosystem is repeatedly pulled by high Gas fees and scalability issues, SOL has instead become a practical choice that "can run, can be used, and can be traded."

Technically, SOL's rise is not a straight line but a clear "pullback—shakeout—re-breakthrough" pattern. This kind of movement often indicates that the main players are not eager to distribute, but are continuously raising the cost zone. Trading volume has not sharply increased at high levels but has maintained moderate growth after breaking through key resistance, which is a healthy upward trend.

Therefore, this round of SOL's increase is fundamentally not short-term speculation but the market's beginning of "re-pricing."