Bloomberg Intelligence analyst Jamie Coutts said: solana He says (SOL) is well positioned to post a stronger performance against Cardano (ADA).
Coutts notes that Solana has many more daily users than Cardano, but ADA’s market cap is still around 75% of SOL’s market cap. says.
He believes Cardano will begin to gain market share into the more active Solana ecosystem, pushing SOL higher against ADA (SOLUSD/ADAUSD).
Although Cardano has only 16% of daily users, Solana has a market cap of 75%. This trade still has a long way to go.
NEWS CONTINUES BELOW
Looking at its chart, the trader suggests that SOLUSD/ADAUSD has broken above bear market resistance and remains in an uptrend.
Solana’s market value was $17.30 billion at the time of writing. Cardano‘s is $12.71 billion.
Coutts also still holds the king crypto after making two purchases Bitcoin He noticed that the number of (BTC) addresses reached an all-time high (ATH).
It suggests that investors are holding on for the long term as they await the approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC).
“Despite a 100% rally in 2023, it has been solid hands so far. Bitcoin addresses that bought twice and did not sell reached the new ATH of 844,000. This amounts to over three million BTC, or 16% of the circulating supply.”
Koinfinans.com As we reported, Bitcoin is trading at $34,982 at the time of writing this news.