Rotation out of ETH into SOL causes another surge in bearishness
The Ethereum FUD fires are burning hotter than ever as Ether has fallen against Bitcoin and Solana while developers fight the flames.
Ethereum fear, uncertainty, and doubt (FUD) have spiked again amid an apparent rotation into Solana, while ETH price in terms of BTC has fallen to its lowest level in three-and-a-half-years.
The widening gap between Bitcoin (BTC) and Ether (ETH) comes amid increased bearish sentiment for the asset and the rise of competing blockchains such as Solana (SOL).
SOL has gained about 17% over the past seven days, while ETH has been mostly stagnant, and some observers view this as a rotation out of ETH.
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Author: Martin Young
