The SOLV protocol, as an emerging force in the BTCFI field, is undergoing a complex development process. In the early stages of the project, the price of the SOLV token reached a high of $0.1, but subsequently experienced a significant pullback, currently down about 70% from its peak.

This price trend reflects the multiple challenges faced by SOLV. Firstly, the project has adopted a strategy similar to Merlin, aiming to attract attention by increasing the Total Value Locked (TVL). Whether it is expanding cross-chain operations or incorporating diversified assets into the TVL calculation, these initiatives seem more focused on showcasing impressive data on the trading platform. However, this model often struggles to maintain its momentum after the Token Generation Event (TGE), leading to a rapid cooling of price and market sentiment.

Moreover, it is crucial that SOLV has not yet fully proven its ability to provide sufficient security for Bitcoin assets on a technical level. For investors holding large amounts of Bitcoin, if security cannot reach near-perfect levels, they will find it difficult to deposit core assets into the relevant protocol. This has become the main bottleneck for SOLV in the BTCFI track.

Currently, SOLV is more like a transitional product. In the short term, it creates hype through airdrops and liquidity strategies, but in the long run, whether it can establish a foothold in the market will depend on the improvement of security and the implementation of real application scenarios. If it cannot meet the high security requirements of large Bitcoin funds, the project valuation and market narrative of SOLV will face severe challenges.

In the future, SOLV needs to make simultaneous efforts in three areas: technological innovation, security assurance, and practical application, in order to stand out in the fiercely competitive BTCFI track and achieve long-term sustainable development. This requires not only the continuous efforts of the team but also the joint promotion of the entire industry ecosystem.