Ethereum and Solana: Glassnode Focuses on Unexpected Performance Changes

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The cryptocurrency market is bustling due to the bullish momentum of Bitcoin (BTC), which has also propelled the resilience of altcoins. A close analysis of the market performance in the fourth quarter (Q4) of 2024 reveals interesting details about the dynamics of assets like Ethereum (ETH) and Solana (SOL).

However, a significant shift at the beginning of December led to a trend reversal, with Ethereum taking the lead. The 30-day price performance indicates that ETH is leading with a 26.96% increase, followed by BTC at 17.49% and SOL at 1.61%. Data suggests that Solana's growth has noticeably slowed, while ETH has seen an uptick, potentially due to a recovery in investor confidence.

Since the beginning of December, Bitcoin and Ethereum have experienced rapid growth, with BTC outperforming Solana. Current data shows that in the past 24 hours, BTC has risen by 1.89%, SOL by 1.11%, and ETH by 1.03%. This data hints at a shift in funds from Solana to Bitcoin and Ethereum.

Experts indicate that Solana's price dominance seems to have weakened, while BTC and ETH are gaining attention. The broader market prices of ETH and Bitcoin suggest that capital inflow into these two assets is continuously increasing. Compared to Solana, this trend reflects confidence in these two assets.

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