Key Takeaways
Hold onto your virtual hats, folks! Solana’s poised for a breakout if ETH keeps strutting its stuff. But until then, everyone’s throwing a dance party in Ethereum‘s honor. 💃🕺
So, guess what? Solana [SOL] just jumped a whopping 8% this week! 🎉 And it might just be the start of something beautiful… kind of like when your favorite TV show gets an unexpected reboot (and you’re left wondering why they didn’t just let it die gracefully).
Swissblock, the crypto fortune teller of our dreams, just slapped a “bullish” sticker on SOL, saying it loves to ride Ethereal coattails during these joyous crypto festivals. 🍾
The analytics firm generously added,
“Rotation begins. Solana’s moment returns. When ETH leads, SOL accelerates. And we’re not just talking about a leisurely stroll here—it’s like a marathon sprint!”
Check out the attached chart, which is like Solana’s diary of impulsive crushes from last year (shaded areas 1 & 2)—all thanks to an ETH uptick. Sounds like high school drama! 📉📈
July seems to be singing a familiar tune, boosting those vibes of another surge. Fingers crossed, folks! 🙏
Altcoin season suggests…
So, remember when Bitcoin [BTC] decided to flaunt itself to new record heights and caught everyone’s attention? 😏 Yeah, that opened the door for the altcoin brigade to strut their stuff.
BTC dominance kicked the bucket, dropping from 66% to 62.4% since late June. I mean, could it be any more dramatic? 🥴
Swissblock’s mystical crystal ball indicates we might be in ‘Wave 5,’ the wildest phase of the altcoin rollercoaster. Buckle up, kiddos! 🎢
Although they also warned the “surge” might just be the peak of this wild ride—so don’t hop off too quickly, okay? 😅
“Historically, Wave 5s in crypto unfold fast and vertical — think 2017 or 2021. Altseason may be here — but it could also be a final, farewell dance before the curtain drops.”
SOL/ETH ratio drops 44%
Meanwhile, the SOL/ETH ratio is giving us more drama than a telenovela. Since April, SOL’s feeling a bit left out, trailing ETH by over 44%. Ouch! That’s gotta sting. 😬
Long story short, the market’s been busy pining after ETH while SOL tries to get a seat at the cool kids’ lunch table. If this trend keeps going, ETH might just become the prom queen while SOL plays the role of the wallflower. 🙃
On the bright side, big money players are still betting on SOL’s future, with Galaxy Digital grabbing $55 million worth. Who knew they were such fans? But it looks like they also took some profits, just like every friend who wants to ‘cash out’ before dinner gets cold. 💰
Profit-taking averaged $400 million daily—but hold up! That’s still shy of the $1B-$2.4B profitability parties we had during 2024’s peaks.
Ultimately, SOL could take a page out of ETH’s playbook and recover above $180 if history decides to don its nostalgia glasses. That said, profit-taking is becoming more frequent, but nothing compared to the nostalgic bliss of those prior highs. Let’s just hope it doesn’t keep getting overshadowed! 😅
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2025-07-18 00:17