Amid the rising dominance of Solana, Ethereum (ETH) price is exhibiting varying dynamics. Let's analyze the current market situation.
Change in Ethereum and Solana Dominance
In recent weeks, market dynamics have shifted: Ethereum's dominance rose by only 1.8%, while Solana showcased an impressive 12% gain. SOL's price increased by 17%, whereas ETH rose by 7%. This indicates that liquidity is beginning to rotate among different cryptocurrencies.
Ethereum Flows and Institutional Demand
Recent data indicates a resurgence of interest from institutional investors. Ethereum's net flows also suggest a high level of confidence from long-term holders. However, it's worth noting that the Ethereum validator exit queue has reached new highs, raising concerns about potential sell pressure.
Strategies of Major Ethereum Holders
Despite selling pressure, large ETH holders have continued to accumulate their assets. Addresses holding over 10,000 ETH have been actively adding to their wallets, supporting bullish sentiments in the market. This behavior may indicate that major investors view pullbacks as an opportunity for acquisition.
In conclusion, despite strong competition from Solana, Ethereum retains interest from institutional investors and large holders, potentially supporting its future growth in the market.
