Crypto Research
@cryptoresearch
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#Ethereum is increasingly feeling the heat from L1 competitors like #Solana.
On Aug. 5, Ethereum’s native token, $ETH, reached its lowest point in three years against $BTC, following global market disruptions.
This decline reduced the ETH/BTC year-to-date returns by 25%.
Ethereum's performance, relative to #Bitcoin, has been decreasing, and its market position has also weakened against Solana, another prominent blockchain.
The SOL/ETH pair increased about 10.75% in the past 24 hours, reaching a new high of 0.064 $ETH on Aug. 8.
This rise coincided with the launch of spot Solana ETFs in Brazil.
This development is part of a broader recovery that began in June, during which the pair has increased by approximately 75%. 0 reply
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