Burniske: “SOL/ETH Important Indicator For Me”
While the rise in Bitcoin and altcoins continues, some analysts claim that the rally is a bear trap, while some analysts think that this rally is a bull start. In this context, Chris Burniske, former analyst of Ark Invest, who thinks that the risk appetite for cryptocurrencies in the market will increase, examined the Solana (SOL) and Ethereum (ETH) charts for this.
Analyzing the Solana /Ethereum trading pair, Chirs Burniske said that this trading pair has become an important indicator of crypto risk appetite for him. Pointing out that the SOL/ETH parity can be used as a tool to assess the risk appetite of crypto money investors in the market, Burniske considers that Solana and Ethereum have historically been much more volatile than Bitcoin (BTC).
“$SOLETH has become a key indicator of crypto risk-spectrum appetite for me, alongside the OG of $ETHBTC.”
Commenting under this post, a user said, “Are you expecting more liquidity flows from ETH to SOL?” asked the question.
Burniske added the graph of the SOL/ETH trading pair to this question and replied, “Perhaps not direct ETH to SOL flow, but this chart doesn’t look like it wants to stop.”
In this context, according to Burniske, who looks at the SOL/ETH chart, risk appetite will continue to increase rather than decrease. With the rally that started in 2023, Ethereum and Solana also experienced increases. Ethereum, which has increased by 3.72% in the last 7 days, continues to be traded at $ 1.609 at the time of writing, while Solana, which has increased by 3.58%, continues to be traded at $ 24.13.
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