BingX Perspective Bitcoin Price Approaching Previous High Last Bull Market Phase Begins in 2024

In addition, there have been significant increases in the prices of the public chains SUI and Aptos recently (click to see more analysis). The main narrative behind the hype of these two is “Solana’s replacement”. Although both have seen considerable gains in recent days, investors need to be cautious about potential risks. This is because the narrative of “Solana’s replacement” itself determines that this is not a track that can be speculated on in the long term. On the one hand, Solana itself does not have any major flaws or controversies. On the other hand, Solana’s ecosystem is already more mature and cannot be compared to the ecosystems related to SUI and Aptos. According to a market report released by Wintermute, Solana is currently dominating token generation, with its market share rising from 60% in early September to 86%, and the weekly token generation increasing from 45,000 to 110,000. This shows that the market has a very high level of recognition for Solana, so it is questionable whether there is a need for a replacement. Therefore, SUI and Aptos may only be suitable for short-term trading, and the value of long-term investment has not yet been demonstrated.