What is the reason why $ETH decreased by 7% today?
1. Sell the News. After Spot Ethereum ETF officially traded with a volume of more than 1 billion USD, it was thought that ETH would escape the Sell-the-news situation. But no, today the price of ETH began to adjust
2. Solana's rise. Solana can be considered Ethereum's biggest competitor in terms of technology and finance. After Spot Ethereum ETF, investors expect Solana ETF to be the next name. Therefore, the cash flow shows signs of shifting from ETH to SOL.
Besides, the increase in the number of active addresses on Solanba and the return of the memecoin trend also contributed to the sharp increase in SOL price.
