One analyst notes that SOL is finally back to where it was last year after being overtaken by ETH. The analyst also suggests that it would be more profitable to hold both SOL and ETH rather than just one of the two tokens. Meanwhile, the price of the leading altcoin increased by over 3 percent, while the price of SOL fell by 1.2 percent.
Analyst: These two rival altcoins can also be profitable together!
cryptokoin.comAs you follow from , the market is starting the week fast. Leading cryptocurrency Bitcoin (BTC) greets the new week by rising above 35 thousand dollars. With a few exceptions, most large-cap altcoins are moving deeper into the green zone. Meanwhile, Solana, which has made a strong run in the past weeks, stands in the red as an exception. However, a closely followed cryptocurrency analyst nicknamed Pentoshi says that Solana (SOL) is finally back to where it was a year ago after being largely outperformed by Ethereum (ETH) during the bear market. The analyst also suggests that it would be illogical for investors to choose either SOL or ETH over the other.
In fact, Pentoshi says the fight between SOL and ETH traders is unnecessary. Because it states that in a bull market, the prices of both altcoins tend to rise. However, he emphasizes that there are still periods when one performs better than the other. In fact, the analyst believes that it may be more profitable for investors to own both altcoins. Holding one or the other would lead to the same outcome, according to the analyst. He also notes that “the argument for just having one is for people who don’t want to make money and just want to be right about something.”
Ethereum and Solana price performance
When we look at how the two tokens have performed over the last 24 hours of trading, we see that ETH still has the upper hand. At the time of writing, CoinMarketCap data shows that the price of the leading altcoin has increased by over 3% since yesterday. Thus, ETH is trading at $1,892. This means ETH is trading just below its 24-hour high price of $1,895.03.
However, ETH’s 24-hour trading volume remained at $5,769,223,226, down over 19% over the past day. The increase in the price of ETH caused its market value to rise to $226,960,966,505.
SOL, on the other hand, experienced a decrease of 1.2% on a daily basis. This means the Ethereum killer was trading at $41.08 at press time. It is worth noting that the altcoin price has risen by approximately 24.4% in the past week alone.
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