The ‘Ethereum Killer’ Lives Up To Its Name: Solana Outperforms ETH by 19% Over A Week, But Can The Second-Largest Coin Stage A Comeback?
Posted On October 25, 2024
Ethereum and Solana have plotted drastically divergent trajectories over the past week or so, causing investors eager to shift capital away from Bitcoin (CRYPTO: BTC) to sit up and take notice.
What happened: Solana, often touted as the “Ethereum Killer,” spiked over 13% in the last seven days, faring among the top weekly gainers. In contrast, Ethereum, with a much bigger market capitalization, slipped 4.63% in the said period.
In fact, in ETH’s terms, SOL was currently sitting at an all-time high, according to data from CoinMarketCap, reflecting a gain of 57% year-to-date. Over the last week, SOL was up over 19% against ETH.
Cryptocurrency | 7-Day Gains +/- | Price (Recorded at 12:30 p.m. EDT) |
Solana (CRYPTO: SOL) | +13.65% | $173.33 |
Ethereum (CRYPTO: ETH) | -4.63% | $2,497.52 |
The divergence comes at a time when Bitcoin, the market bellwether, was flirting with the …