Key Takeaways 

Solana flips the narrative with a 12% weekly rally amid ETF expectations and corporate treasury interest. Are there more gains ahead? 

Solana [SOL] price has shown remarkable resilience this week, outperforming Ethereum [ETH] and Bitcoin [BTC] by 12% and 7% respectively. 

The altcoin’s contrarian rally, as the rest of the market stalled or cooled off, has prompted analysts to believe that it could be setting the stage for further outperformance. 

In fact, the rally could be more pronounced towards the end of the year, noted Jake Ostrovskis, Options trader at market maker Wintermute. 

For Ostrovskis, the expected approval of Spot ETFs by October and increasing crypto treasury demand could be key catalysts for the altcoin. 

“Given a lack of large ETFs, the DAT narrative in SOL has the potential to be a key driver into year-end.”

Will rotation favor SOL?

SOL has lagged behind ETH since Q2, as evidenced by a 54% plunge in the SOL/ETH ratio.

The dislocation was due to an uptick in crypto treasury interest, a new demand lifeline that lifted ETH’s market sentiment.

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Author: Benjamin Njiri