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I think it's a mix of people returning to crypto, people buying the coins the know, influencers promoting the coins they know, the coins that have announcements (xrp had some) and big traders on exchanges amplify those moves.
Sol was the trade for some crypto natives in the bear market. they will now try to sell their narrative of becoming a better version than eth to returners, newcomers, external investors.
But all those guys have many other options, starting with eth, with new sol killers at 1/20th the sol mcap, memes at 1/10000 the mcap and more likelihood of doing a 100x.
It's tough when you argue with fundamentals in a market when price tells a different story - gotta swallow the same pill others had to before them.
Really interesting to follow performance of Eth, Sol, Xrp from now (I think xrp will top soon) 0 reply
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