Proxy

<ul class="news-points">
 <li><strong>Daan Crypto Trades believes SOL/BTC is not the appropriate gauge for altcoin sentiment.</strong></li>
 <li><strong>According to Daan, Solana’s recent growth hardly impacted Bitcoin’s dominance.</strong></li>
 <li><strong>The investor explained that altcoin seasons are usually short but explosive.</strong></li>
</ul>
<p>A renowned cryptocurrency investor identified as Daan Crypto Trades on X has argued that the SOL/BTC pair is not the appropriate gauge for altcoin strength in the crypto market. In a recent post, Daan acknowledged SOL’s impressive performance but noted that it did not have a proportionate impact on Bitcoin dominance (BTC.D).</p>
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   <p lang="en" dir="ltr">Seeing a lot of people claim <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a>/BTC is a better proxy for general alt strength than ETH/BTC.<a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> performed extremely well and the general alt market underperformed BTC as BTC.D grinded higher.<br><br>Therefore, I would not say SOL/BTC is a good gauge for overall altcoin strength at… <a href="https://t.co/8KpdnACoOt" target="_blank" rel="noopener noreferrer nofollow">https://t.co/8KpdnACoOt</a></p>— Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1784581483052601709?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 28, 2024</a>
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<p>Daan’s position counters the growing impression that SOL/BTC has become a better proxy for measuring the general altcoin strength than ETH/BTC. According to him, the SOL/BTC idea stems from Solana’s recent performance, which most people c…</p>
<p>The post <a href="https://coinedition.com/eth-btc-is-the-best-proxy-for-measuring-altcoin-market-sentiment-investor/" rel="noopener noreferrer nofollow">ETH/BTC Is The Best Proxy For Measuring Altcoin Market Sentiment – Investor</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

ETH/BTC Is The Best Proxy For Measuring Altcoin Market Sentiment – Investor

Coin Edition

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