#Binance Alpha空投活动# Recently, I have been following the performance of ETH and SOL. The difference in the trends of these two projects is indeed thought-provoking. ETH broke through $4700 to reach a new high, while SOL has stagnated, hovering around $200. The reasons behind this are complex, involving differences in treasury strategies and fund sizes, as well as the divergence in application narratives.

With market opinion leaders like Tom Lee backing ETH, along with the support of large treasury strategy companies like BitMine Immersion, it truly holds an advantage. In comparison, SOL still has a considerable gap in this regard. However, recently seeing Arthur Hayes join the SOL camp might bring some changes for it.

Another key point is the progress of ETFs. The management scale of the ETH spot ETF has exceeded $22 billion, while the development of the SOL ETF is still relatively lagging. However, if the SOL ETF applications from VanEck and Grayscale are approved in October, it could become a breakthrough.

From the application scenario perspective, ETH indeed excels in areas such as stablecoins and RWA. However, SOL has also made breakthroughs in RWA cross-border cooperation recently, which may open up new growth points.

Overall, although SOL is currently underperforming compared to ETH, its potential still exists. I will continue to closely follow the developments of both, especially SOL's progress in the ETF and RWA fields, which may bring new opportunities.