ChainCatcher message, trader Eugene Ng Ah Sio posted an explanation of why SOL is currently the most关注ed mainstream coin:In all charts (SOLBTC, SOLETH, and SOLUSD trading pairs), we are at or near the "value" level of the high time frame (HTF);The undervaluation below $200 provides a good entry point for today's bulls;The funding rate has been declining and has now entered negative territory, indicating that some form of perpetual contract hedging is taking place, as the open interest (OI) has remained almost unchanged. This is further explained as multiple market participants using SOL as the short part of their hedging portfolio, due to its weakening momentum since $260.As @docXBT mentioned, these are important levels that need to be respected to some extent, especially on the high time frame (HTF). As a bull, I am willing to try to enter at these levels. However, if these levels are lost, we will soon enter a dangerous zone.

ChainCatcher news, CryptoQuant and Nansen data show that in the past 24 hours, Gemini has seen an outflow of $850 million in mainstream funds (excluding altcoins), including $230 million in stablecoins, 22,000 BTC (approximately $370 million), and 200,000 ETH (approximately $250 million), with stablecoin reserves dropping to $150 million. (source link)