Solana
AVAX sales surge could outpace Solana’s, Santiment says
11:05 a.m. ▪ 3 min reading ▪ by Fénelon L.
Despite the recent buzz around Solana, analyst Santiment predicts more robust growth for Avalanche (AVAX) in the coming days. This projection comes amid a general rise in the crypto market, where AVAX and SOL have seen significant gains.
AVAX vs Sol: the unexpected duel that could reshape the crypto landscape
The recent increase in the AVAX price and SOL, both up more than 7%, reflect renewed optimism in the cryptocurrency market. However, the catalysts for these increases differ significantly.
For Solana, the announcement by VanEck of the filing of a SOL ETF with the SEC was the main driver. That news, coupled with analyst James Seyffart’s prediction of possible approval by 2025, triggered a massive influx of interest and capital.
The price of SOL thus soared to $145.35, with trading volume exploding by 122% to $3.15 billion.
On the other hand, the rise of Avalanche seems more discreet but potentially more lasting. Expert Quinten’s inclusion of AVAX among the cryptos likely to gain ETF approval by 2025 certainly supported its price, which reached $27.96. However, it’s the lack of excessive hype that could work in its favor, according to Santiment.
Perspectives and influencing factors
THE analysis According to Santiment, Solana’s rise is primarily fueled by fear of missing out (FOMO), a phenomenon that is often short-lived. Conversely, Avalanche’s more discreet rise could offer higher and more stable growth prospects.
This divergence in dynamics is crucial for investors. While institutional interest and regulatory advances are driving the market, ongoing legal battles, particularly in the case of Coinbase vs. SECcontinue to influence general sentiment.
Derivatives data supports this optimistic outlook, with increasing open interest in Avalanche and Solana futures, signaling continued bullish potential for both assets.
In this constantly changing context, caution and in-depth analysis remain essential. buzz around Solana is palpable, the more discreet but promising trajectory of Avalanche could well surprise the market in the coming weeks.
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Fenelon L.
Passionate about Bitcoin, I love exploring the intricacies of blockchain and cryptos and sharing my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I strongly believe that Bitcoin is the tool that can make this possible.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.