Sat 29 Jun 2024 ▪3min read ▪ byFenelon L.
Despite the recent buzz around Solana, analyst Santiment predicts a more robust growth for Avalanche (AVAX) in the coming days. This projection comes in a context of a general rise in the crypto market, where both AVAX and SOL have recorded significant gains.
AVAX vs Sol: The unexpected duel that could reshape the crypto landscape
The recent surge in the prices of AVAX and SOL, both rising by more than 7%, reflects a renewed optimism in the crypto market. However, the catalysts for these increases differ significantly.
For Solana, the announcement by VanEck of filing for an SOL ETF with the SEC has been the main driver. This news, coupled with analyst James Seyffart’s prediction of a 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.
In contrast, Avalanche’s rise seems more discreet but potentially more sustainable. The inclusion of AVAX by expert Quinten among the cryptos likely to get ETF approval by 2025 has certainly supported its price, which reached $27.96. However, it’s the absence of excessive media hype that could work in its favor, according to Santiment.
Perspectives and influencing factors
The analysis by Santiment suggests that Solana’s rise is mainly fueled by the fear of missing out (FOMO), an often short-lived phenomenon. Conversely, Avalanche’s more discreet rally could offer a higher and more stable growth prospect.
This divergence in dynamics is crucial for investors. While institutional interest and regulatory advancements stimulate the market, ongoing legal battles, notably the case of Coinbase against the SEC, continue to influence general sentiment.
Derivative data supports these optimistic perspectives, with an increase in open interest for Avalanche and Solana futures contracts, signaling continued bullish potential for these two assets.
In this constantly evolving context, caution and in-depth analysis remain essential. While the buzz around Solana is palpable, Avalanche’s more discreet but promising trajectory could well surprise the market in the coming weeks.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
