Based on current blockchain information, it seems investors are experiencing a significant change in preferences. As reported by an analyst on platform X, funds have been departing from Ethereum and the BNB Chain according to Real Time Money Flow (RTMF) data.
While Bitcoin and other well-known cryptocurrencies have seen decreased investment, newcomers like Solana are experiencing significant financial inflows.
Solana Receiving Billions In Capital
Concern is growing among some analysts that Ethereum, the front-runner in the smart contracts market, could potentially see further declines in the upcoming trading periods. This comes as Solana, a significant competitor, racks up more gains, as suggested by the RTMF chart.
In simpler terms, an RTMF chart represents the flow of funds into or out of an asset in real time. It measures the demand or supply pressures driving price movements without relying on past data such as prices or trading volumes.
The demand for a specific crypto asset among investors can be reflected in its Real-Time Market Fundamental (RTMF) value. Conversely, if the RTMF is decreasing, as observed with Ethereum and the BNB Chain lately, it could indicate reduced investor interest or a shift towards other assets.
Currently, some analysts are warning of a discouraging future for Ethereum in the present market trend. This pessimistic view is believed to be influenced by a perceived preference among established investors or long-term holders. The significant influx of funds into Solana might be driven by its compelling value propositions.
The user base on Solana is growing rapidly as developers take advantage of the network’s scalability and affordable fees. Conversely, Bitcoin has experienced a surge in investment due to heightened institutional interest following the approval of Bitcoin ETFs in January.
Will Ethereum Labor For Gains This Cycle?
According to one expert’s perspective, Ethereum may face challenges in the upcoming period, potentially experiencing setbacks as competition intensifies and users discover appealing alternatives.
The analyst added that while Ethereum has a wide following and some believe it can function as a valuable asset, it fails to match Bitcoin’s competition in this regard. Furthermore, Ethereum continues to grapple with expensive transaction fees.
Simultaneously, there is growing optimism towards Solana. Not long ago, the FTX Bankruptcy Estate disposed of its $1.6 billion worth of SOL for approximately $64 each to crypto investment firms Galaxy Digital and Pantera Capital.
These coins won’t be liquidated. Instead, they will be restaked and locked for four years.
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2024-04-09 02:41