Ethereum

Solana

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<p dir="ltr">The crypto market appears to be entering into a new era as two major projects are going head-to-head with each other. Ethereum (ETH) is now facing intense competition from Solana (SOL). Surprisingly, SOL is likely to outshine ETH as market sentiment shifts.</p>
<p dir="ltr">Michaël van de Poppe, famous analyst and founder of MN Trading Consultancy, has shed light on this intense crypto battle. He&nbsp;<a href="https://x.com/CryptoMichNL/status/1818187271557857322" rel="noopener noreferrer nofollow">tweeted</a> that the SOL vs. ETH drama is reaching extreme levels. The analyst further revealed that Ethereum has been underperforming after the recent launch of spot ETFs.</p>
<h2 dir="ltr" id="struggle-of-ethereum-etfs">Struggle of Ethereum ETFs</h2>
<p dir="ltr">Notably, the U.S. SEC approved several spot Ethereum ETFs on July 23. However, they have failed to gain significant traction since then. Per&nbsp;<a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">SoSoValue</a>, these Ethereum ETFs witnessed a total net outflow of almost $98 million on July 29. This was the fourth consecutive day of net outflows for these products.</p>
<p dir="ltr">SoSoValue further revealed that Grayscale’s ETHE witnessed a single-day net outflow of $210 million, while the Grayscale mini-ETF ETH had an inflow of just below $5 million. On the other hand, BlackRock’s ETHA saw an inflow of $586 million, while Fidelity’s FETH received an inflow of around $24 million.</p>
<h2 dir="ltr" id="solana-garners-investors-interest">Solana garners investors’ interest</h2>
<p dir="ltr">Amid the lack of interest in Ethereum, it appears that investors have started to get into the Solana market. Michaël van de Poppe told his 721.9K followers on X that the&nbsp;<a href="https://u.today/heres-why-ethereum-didnt-skyrocket-on-etf-launch" rel="noopener noreferrer nofollow">failure of Ethereum ETFs</a> is pushing traders toward SOL. Moreover, he revealed that a majority of investors are anticipating that Solana is going to beat Ethereum in the near future.</p>
<p>While recent market performances lean toward this overview, it is still too early to claim if SOL is going to beat ETH. Van de Poppe also said that things can change soon. He revealed that he is still content with his ETH investment, and he believes that the&nbsp;<a href="https://u.today/vitalik-buterin-unexpectedly-shifts-focus-to-bitcoin-heres-reason" rel="noopener noreferrer nofollow">sentiment can shift</a> again.</p>

Solana to Outshine Ethereum? Investors Go Bullish on SOL

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Alte articole publicate pe 30 iul. 2024

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