Ethereum (ETH) Dips by 2%, as Solana (SOL) Outshines ETH with Record-Breaking Earnings

Ethereum (ETH) has experienced a price drop of 1.92% and is currently trading at $2,493.15 in the last 24 hours. During the dip, the token traded between a daily low of $2,462.17 and a daily high of $2,557.71, respectively.

Ethereum price is down 1.92% in the last 24 hours and is currently trading at $2,493.15. The token traded between a daily low of $2,462.17 and a daily high of $2,557.71, respectively, during the decline.

With the decrease in the coin price, the market value of Ethereum also decreased by 1.89%. This situation is linked to the decrease in demand in the market and the loss of investor interest.

Ethereum Price Performance and Market Sentiment

Ethereum showed a downward trend throughout the day, falling from a daily low of $2,557.71 to a daily low of $2,493.15.

This downward move comes with a sharp decline in trading volume, which fell .64 to $16.01 billion, indicating less interest in trading activities.

The market cap is currently $300.17 billion, indicating a decline in investor confidence. Ethereum price movements show moderate volatility in the daily trading range.

Main support is seen at $2,462.17 and resistance is seen around $2,557.71. Analysts monitor these levels as traders look for support or potential signals of further decline.

Analysts' Price Movement Predictions

Although ETH showed a downward trend last week, many analysts are bullish on Ethereum in the near future. Analyst Louis Yellow stated that Ethereum exchanges saw an $80 million draw and this could ease the selling pressure.

Similarly, the number of Ethereum wallets holding $1 million worth of ETH is still increasing, meaning more long-term holders are gaining more and more trust.

Yellow also noted that ETH has just broken out of the symmetrical triangle pattern and could lead to an increase of # in the next few weeks. He stated:

"It could definitely be interesting from such an optimistic perspective. But one of the reasons for this is the reduced selling pressure. It is a very bullish signal for traders as an indicator of a bullish trend, and Ethereum's next moves in the coming period could be a sign of a bounce."

We follow the #ETH issue closely:

- $80 million worth of ETH was withdrawn from the exchanges in the last day

- Wallets over $1 million are on the rise and long-term holders are confident

- A bounce of # is expected as ETH breaks out of the symmetrical triangle. In his view, although the short-term trend is negative, such signals offer a potential entry for a reversal and traders will be watching Ethereum's next steps for a bounce.

Solana Outperforms Ethereum in Latest Performance

Although Ethereum is experiencing some price fluctuations, Solana (SOL) comes to the fore with its record-breaking earnings. Solana earned $8.7 million in network revenue in the current week alone, which is a sharp increase from the $8 million it earned previously.

Solana Broke Record Revenues!?Solana broke another record by earning $8.7 million in network revenue on October 23, rising from $8 million the previous day. Total locked value jumped from $250 million to $6.8 billion this year, with SOL surpassing Ethereum by `0.Solana, as a blockchain… pic.twitter.com/M1rFYdVuCN

This revenue increase comes at a time when Solana's TVL has increased from $250 million to $6.8 billion this year, with Solana growing `0 faster than Ethereum in 2023.

As SOL's market performance improves and TVL continues to grow, Solana ekos

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