#MyGateTradeStory



It's a fact! The crypto market has been going through a tough phase for several weeks. However, analysts are drawing attention to an unexpected divergence between two smart contract blockchains. Ethereum has declined by about 17% over the month, while Solana has dropped more than 20%. The price of the SOL token has thus fallen 12% against ETH since the beginning of June. A gap that warrants a detailed analysis!
Almost all crypto investors and traders know very well: June is historically a difficult month for altcoins. This year, however, the situation seems to have worsened significantly.
Crypto: Solana is falling much faster than Ethereum in June
It's a fact! The crypto market has been going through a tough phase for several weeks. However, analysts are drawing attention to an unexpected divergence between two smart contract blockchains. Ethereum has declined by about 17% over the month, while Solana has dropped more than 20%. The price of the SOL token has thus fallen 12% against ETH since the beginning of June. A gap that warrants a detailed analysis!
Panic-stricken crypto investors watch Solana fall faster than Ethereum
Read us on Google News
In brief
Solana has experienced a decline greater than Ethereum’s since the beginning of June.
The divergence could create an opportunity if institutional flows return.
Crypto analysts anticipate a prolonged consolidation phase for Solana below the key technical resistance.
Crypto market correction: Solana drops more than Ethereum
Almost all crypto investors and traders know very well: June is historically a difficult month for altcoins. This year, however, the situation seems to have worsened significantly.
Proof: Ethereum’s monthly decline of -17.1% already more than doubles its historical average. Solana suffers even more with a drop of 20.5%. The price of this crypto asset has even fallen to around $61, its lowest level in over two years. At the time of writing, the SOL token is trading around $66.

That’s not all! According to CoinGlass data, open interest in Solana futures contracts has also contracted by 15%. That represents several hundred million dollars.
ETH0.55%
SOL2.24%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned