Solana Is Falling Against Its Giant Rival: Analyst Warns About Continuing the Decline!
While Solana (SOL) continues to lose value against Ethereum (ETH), a critical warning came from the analyst.
Overshadowed by Ethereum's spot ETF story, altcoins have lost significant value in recent weeks, especially against Ethereum. One of the most notable names among these altcoins was Solana.
SOL/ETH parity dropped to 0.037, its lowest level since March 13. Making a statement on the subject, experienced cryptocurrency analyst Josh Olszewicz predicted that the declines in SOL/ETH may continue.
The decline will continue if Spot Ethereum ETF approval comes
Arguing that the value of Solana against Ethereum will continue to melt if the USA approves spot Ethereum ETFs, the analyst said that a story like the spot Solana ETF is unlikely.
However, although the path of least resistance is downwards, Grayscale reminded that the SOL/ETH parity may experience temporary recoveries if outflows from the Ethereum Trust continue.
He also warned that things could change if there is a delay or postponement for spot Ethereum ETF approval.