10h00
3
min read by
Fenelon L.
Despite the recent hype around Solana, analyst Santiment predicts more robust growth for Avalanche (AVAX) in the coming days. This projection comes amid a broader bull run in the crypto market, where both AVAX and SOL have seen significant gains.
AVAX vs Sol: The unexpected duel that could redraw the crypto landscape
The recent price surge in AVAX and SOL, both up over 7%, reflects renewed optimism in the crypto market. However, the catalysts for these increases differ significantly.
For Solana, the announcement that VanEck filed for a SOL ETF with the SEC was the main driver. This 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 jumped to $145.35, with trading volume exploding 122% to $3.15 billion.
Avalanche’s rise, on the other hand, seems more muted, but potentially more sustainable. Expert Quinten’s inclusion of AVAX among the cryptos likely to get ETF approval by 2025 has certainly supported its price, which has reached $27.96. However, it’s the lack of excessive hype that could work in its favor, according to Santiment.
Perspectives and influencing factors
Santiment’s analysis suggests that Solana’s rise is primarily fueled by fear of missing out (FOMO), an often fleeting phenomenon. Conversely, Avalanche’s more muted rally could provide greater and more stable room for improvement.
This divergence in dynamics is crucial for investors. While institutional interest and regulatory advancements are driving the market, ongoing legal battles, including Coinbase’s lawsuit against the SEC, continue to influence overall sentiment.
Derivatives data supports this optimistic outlook, with an increase in open interest in Avalanche and Solana futures signaling continued upside potential for these two assets.
In this constantly evolving context, caution and in-depth analysis remain essential. If the enthusiasm around Solana is palpable, the more discreet, but promising trajectory of Avalanche could well surprise the market in the weeks to come.
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Fenelon L.
Passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.
