As Bitcoin [BTC] And Ethereum [ETH] Enjoying their long-lost high-priced distant dreams and struggling to break through old resistance levels, is it possible that tired investors are looking for a more energetic alternative instead? This is the content of the data.
The beginning of alternative spring?
Santiment revealed that while the Bitcoin and Ethereum volumes were sliding, the ones that took advantage of the loss included Terra. [LUNA] And Solana [SOL]..
📊 Over the past year, there have been significant changes in trading interests.It’s well documented $ LUNA When $ SOL It has emerged in the top 10 of a very large amount of market capitalization assets.But this is a sacrifice $ BTC When $ ETH Watch their volume go down. https://t.co/3qVOY8y6qU pic.twitter.com/u1NuiEWhaB
— Santiment (@santimentfeed) March 14, 2022
In fact, a closer comparison reveals how dramatic this reversal of fate was. Towards the beginning of 2022, Bitcoin and Ethereum dominated the market in terms of volume, while Solana and Luna recorded smaller spikes.
However, after fast-forwarding for 3 months, you can clearly see that the volume of LUNA is much higher than the volume of Bitcoin, Ethereum and even Solana.
As for Solana, Alto outperforms Bitcoin in terms of volume. Unfortunately, it hasn’t completely overtaken Ethereum yet.
Source: Santiment
However, SOL and LUNA investors cannot be said to be over the month, as the weighted sentiment of both assets was in the negative territory at the time of the press.
This suggests that investors are far beyond the excitement of the “buy dip” stage. The newly acquired asset is now ready. In most cases, it looks like Brulan is ready.
Source: Santiment
Looking at the price behavior of both assets, SOL was trading at $ 80.94, up 0.67% in the last 24 hours and down 3.75% in the last 7 days. Meanwhile, LUNA changed trading at $ 93.04 after rising 5.81% in one day and 12.82% in seven days.
Investors may see this as a sign for collecting portfolio alternatives, but both coins come with their own luggage.For example, Solana’s total value is locked [TVL] Since the fall of 2021, the market share has been on a downward trend.
Meanwhile, Terra’s TVL is on the rise, with a 12.95% share, just behind Ethereum itself. Still, analysts are concerned that LUNA may be fixed soon.
In addition, DeFi players are questioning the sustainability of Terra’s anchor lending protocol yields.
Source: DeFi Llama
Time to deal cards
Terra’s current trump card may be its formidable DeFi presence, but Solana has its own ace. Specifically, this is an increasing influence in Solana’s NFT space trying to overtake Ethereum.
In fact, March 13th, Solana’s NFT standard Metaplex announcement It has reached the milestone of casting 9 million NFTs.
This is a true Sunday Fundy created using 9 million NFTs. @Metaplex.. pic.twitter.com/yyiPrwNIfu
— Metaplex (@metaplex) March 13, 2022
