Crypto News: Now More Popular Than Ethereum – This Altcoin Has Become the Favorite Among Big Investors
While Ethereum (ETH) is struggling to stay above $1,600, investors are currently setting their sights mainly on its competitors. According to blockchain researchers, Solana (SOL) was attracting a lot of attention in the past week prior to its current downward course that coincides with a tough week in the crypto market.
Its former top supporter Sam Bankman-Fried is facing a long prison sentence, but for Solana (SOL), the worst may soon be over. The cryptocurrency shows around 50.27% loss for the year, and just in the last four weeks, SOL has lost 28% of its value.
Charts only tell one side of the story, however. According to last week's analysis by blockchain researchers from CoinShares, Solana (SOL) is performing much better than many other altcoins and was the only one with capital inflows.
The new "Bitcoin on BSC" is also gaining popularity. BTCBSC has only been on presale for a week and has already appeared in various international media outlets.
While Ethereum continues to struggle with slow transaction speeds and high fees, and Solana's future is uncertain, the "Bitcoin on Binance Smart Chain" impresses across the board. Fast transaction processing, low fees, and an integrated staking function make $BTCBSC a potential investment even in the current difficult phase.
The overall sentiment in the crypto markets is currently subdued with very low investor activity.
"Inflows into digital investment products have cooled off, with relatively small outflows of a total of 11.2 million U.S. dollars. This negative trend over the last 7 weeks now totals 342 million USD." the CoinShares report reads.
So far this year, cryptocurrencies have recorded net inflows of $165 million, but the year has been marked by strong fluctuations in
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