After the MEME craze subsided, the trading volume on the Solana chain plummeted by over 90%; the staking yield of 7%-8% for validator nodes has sucked liquidity away like a black hole, and lending protocols are struggling under the pressure of suppressed yields.

Due to the fact that the SIMD-0228 proposal is the first of its kind on the Solana network, the community remains cautious about whether it will perform as expected.

Currently, with the new narrative failing to emerge and the MEME track gradually cooling down, how Solana can maintain on-chain activity may become the biggest challenge.

"P Xiaobai's sky has fallen!"

The downturn cycle also brings innovation. Standing at the window of market panic, could new opportunities arise from new stocks?

This article analyzes the impact of tokens such as SOL, TRUMP, LIBRA, and MELANIA on the market, pointing out that these projects led to the collapse of the Solana ecosystem. In particular, the promotion and pump of tokens by Trump and his wife caused significant losses for investors.

The high point retracement exceeds 40%, is Sol about to crash?

After Ethereum, Solana also cannot escape market FUD.

In 2025, OKX will fully invest in the Solana ecosystem, looking forward to more activities and collaborations to help promote a stronger Solana ecosystem.

Critically examine how each narrative constructs the world—and who benefits from this construction.