According to PANews, the SOL/ETH ratio reached a new all-time high following a sell-off triggered by market turmoil. According to TradingView data, the SOL/ETH ratio reached a new high of 0.0595 on August 6.
The sell-off stemmed from turmoil in traditional financial markets, a massive sell-off in Jump Crypto, and broader macroeconomic unease. On August 5, Ethereum (ETH) prices fell 22%, while Solana (SOL) prices fell 36%.
After the sell-off, SOL price rebounded 35% from the local low of $110 to $144, while ETH price rebounded only 15% from the yearly low of $2157 to $2463.
Previously, the SOL/ETH ratio reached 0.0591 in March, when Solana’s price surged and hit a new high in market capitalization. Spectral Labs has launched an AI-driven bot that automatically shorts ETH (ETH/BTC) when traders on social media are extremely bullish on it.
