🔴Solana vs Ethereum: this is how the cryptocurrency superclassic goes
Every cryptocurrency bull cycle has had its “super classics.” Currently, a great rivalry is being seen between two cryptocurrencies specialized in smart contracts: solana (SOL) and ether (ETH), a native token of the Ethereum network. Until now, the second has been prevailing.
SOL has seen its price (measured in ETH) retreat from 0.058 ETH to 0.038 ETH in the last 3 months, representing a drop of 34%, marking its lowest level in this period.
The main reason behind SOL's pullback could be the arrival of Ethereum spot ETFs on the exchange which is expected to occur sometime between July and September in the United States. These financial instruments could elevate ETH to a higher status, differentiating it from SOL and other altcoins.
The arrival of the funds is anticipated to drive a migration of investment capital from other alternative cryptocurrencies to ETH. The arrival of ETH-based ETFs could redefine the cryptocurrency landscape, placing it in a dominant position.
Speculation around this event could lead investors to prefer ETH over SOL, which would explain the latter's decline in the last three months as measured in ETH, as investors look for more stable alternatives (regulatory speaking) and with higher potential.
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