In the current market environment, although the overall trend is a fall, there have been some positive signals in the encryption currency sector. The most notable is that Bitcoin (BTC) and Ethereum (ETH) have both received regulatory recognition, which has driven BTC to break through its historical high, while ETH is also not far from its historical peak.

At the same time, the direction of the Federal Reserve's policy has become the focus of market attention. Even if a rate cut is unlikely to happen immediately in September, the trend of loose monetary policy has become difficult to reverse. This means that since 2022, we will enter an era of lower interest rates, which is undoubtedly favourable information for the cryptocurrency market.

After BTC and ETH, Solana (SOL) may become the next notable encryption currency. Although the scale of institutional investment related to SOL is relatively small, this investment still has a significant impact considering its smaller market capitalization. Currently, the market generally believes that the approval of SOL ETF will be the key to its further development.

It is worth noting that the proportion of SOL token holders is steadily increasing, supported by a large amount of funds from the United States. A noteworthy indicator is the Herfindahl index of SOL, which measures the share distribution of network addresses in the current supply, that is, the concentration of chips. A higher index indicates that the market is dominated by a few large holders, while a lower index means that the chips are distributed more evenly.

As the cryptocurrency market landscape continues to evolve, investors should closely monitor these changes while carefully assessing potential risks and opportunities.