Solana (SOL) Reached a New All-Time High Against Ethereum (ETH)
07.08.2024 12:00 1 min. read Alexander Stefanov
The aftermath of Monday's market crash has led to some interesting developments - this time Solana (SOL) is leading the way.
Specifically, the price of SOL has reached a new all-time high against Ethereum (ETH).
In the early hours of August 7, the price of SOL jumped to $153.8, holding at that level at the time of writing, while ETH traded for $2,522.
According to TradingView, the SOL/ETH ratio has reached the 0.061 level. This ratio measures the value of one SOL token to the value of one ETH.
If the ratio drops, it means that the price of ETH is outperforming that of SOL.
However, an increase suggests the opposite, as was the case earlier. The reason for this milestone may be related to their respective prices.
Earlier in the week, ETH reached an annual low of $2,114.
The price of SOL also dropped to just over $110 for the first time in many months. But since then, SOL has seen a more than 30% increase, while ETH has only managed to jump about 9%.
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