Solana's performance in 2025 is quite interesting. At the beginning of the year, it was at $194, and by the end of the year, it dropped to $124, a decline of nearly 36%. There is a contradiction here—the fundamentals and price trends are completely different. According to conventional logic, the fundamentals should support the price, but instead, the divergence is growing larger. It feels like the price fluctuations of SOL are now very difficult to explain using traditional analysis frameworks. Behind this market trend, market sentiment, capital flow, and even narrative shifts are all playing a role.