Altcoin Dynamics Altered: Ethereum and Solana Lead Post-ETF Era
In the latest edition of Glassnode’s “The Week Onchain,” Alice Kohn’s research, published on Jan. 23, 2024, highlights ethereum’s (ETH) standout performance, marked by a notable surge in derivatives market activity, and the impressive journey of solana (SOL), especially post-bitcoin exchange-traded fund (ETF) approval. Ether has recently outshone bitcoin, recording its strongest performance since late 2022. Kohn’s report notes a surge of over 20% in ethereum’s value relative to bitcoin, coinciding with a revitalized interest in ethereum’s derivatives market.