While the rise in Bitcoin and altcoins continues, some analysts say that the rally is a bear trap, while some analysts think that this rally is the beginning of a bull.
In this context, Chris Burniske, former analyst of Ark Invest, who thinks that the risk appetite for cryptocurrencies in the market will increase, said that for this. Left (LEFT) and Ethereum (ETH) studied the graphs.
Solana /Ethereum Analyzing the trading pair, Chirs Burniske said that this trading pair has become an important indicator of crypto risk appetite for him.
well LEFT/ETH Pointing out that the parity can be used as a tool to evaluate the risk appetite of crypto money investors in the market, the analyst said that Solana and Ethereum historically to Bitcoin (BTC) Considering that it is much more volatile than its counterpart, he stated that it will play an important role in determining the risk appetite.
“The Solana/Ethereum trading pair has become a key indicator of crypto risk spectrum appetite for me alongside the Ethereum/Bitcoin OG.”
$SOLETH has become a key indicator of crypto risk-spectrum appetite for me, alongside the OG of $ETHBTC.
— Chris Burniske (@cburniske) January 24, 2023
A user commenting under this post “Expecting more liquidity flows from ETH to SOL?” asked the question.
Burniske adding the chart of the SOL/ETH trading pair to this question “maybe this is not my analysis of the liquidity flow from ETH to SOL, but this chart doesn’t seem to want to stop.” replied in the form.
Perhaps not direct ETH to SOL flow, but this chart doesn’t look like it wants to stop pic.twitter.com/xSm7O9zEWv
— Chris Burniske (@cburniske) January 24, 2023
In this context LEFT/ETH According to Burniske, who looked at the graph, risk appetite will continue to increase rather than decrease.
With the rally that started in 2023, Ethereum and Solana also experienced increases.
3.72% increase in the last 7 days Ethereum At the time of writing, there was a 3.58% increase from $ 1,627. wither It continues to trade at $24.47.
*Not investment advice.
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