Solana reaches all-time high in growth after sudden collapse

After the recent market crash, the price of Solana SOL $84.79 Binance-Peg SOL 0.21% Market capitalization $93.26 million VOL. 24 hours $0.18 billion has reached a new all-time high against Ethereum ETH $2,119.17 Bridged Ether (StarkGate) -0.43% Market capitalization $37.64 million VOL. 24 hours $0.66 billion . Today, August 7, the value of SOL has risen to $ 153, while ETH is trading at $ 2,520. Both assets showed significant growth after the market correction.

According to the analytics of the TradingView platform, the SOL/ETH ratio is 0.061. This means that the price of one Solana token is 6.1% of the price of one Ether. The growth of this ratio indicates better dynamics of SOL compared to ETH.

At the beginning of the week, ETH hit a yearly low of $ 2,114, while SOL fell to $ 110.23. However, since then, Solana has risen by more than 30%, while Ethereum has only gained 9.68%.

The revaluation of the assets did not come as a surprise to some traders. Some of them believe that Solana can still overtake Ethereum in terms of market capitalization, although this has not yet happened.