Solana (SOL), which left its mark on 2023 with its rise, rose up to $126. SOL, which entered 2024 at around $100, dropped to $80 after the corrections.
However, Solana became active again and surpassed Bitcoin with its performance.
At this point, while BTC made a strong comeback last night and rose above $ 45,000, there were also increases in altcoins.
In this rise, Solana showed a prominent performance again, surpassing Bitcoin by rising above $104.
Evaluating Solana’s performance against Bitcoin, Santiment said that the outage in the SOL network on Monday caused concern among investors but created a local bottom for the price.
Pointing out that FUD among SOL investors increased due to the outage, Santiment stated that this FUD triggered the recovery in SOL price.
“Solana has been one of the few altcoins to outperform Bitcoin this week, climbing back above $102.
In the last 36 hours, the SOL/BTC trading pair increased by 4.5%.
“After the outage in the SOL network, which worried traders on Monday, the price reached a local bottom, and the FUD in SOL due to the outage fueled this price recovery.”
SOL continues to trade at $102 at the time of writing.
📈 #Solana is one of the few #altcoins outperforming #Bitcoin this week, surging back above $102. In the past 36 hours, $SOL / $BTC is +4.5%. The outage that concerned traders Monday ended up being a local bottom, with the #FUD fueling this price rebound. https://t.co/lUC0DBS5B3 pic.twitter.com/1NTk5R4QBj
— Santiment (@santimentfeed) February 8, 2024
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/santiment-this-altcoin-outperformed-bitcoin-with-its-performance-what-is-the-reason/