What you need to know
Crypto treasuries gathered over 4,000,000 SOL while XRP has remained at a relatively low level. Will this be enough to make SOL outperform XRP within the next couple of months?
Since last November, XRP It has outperformed Solana in the crypto market by more than 400%. But, on the contrarySOL attracted greater interest among public companies managing corporate treasuries compared to XRP.
Will the demand for crypto-treasury give SOL the edge in the coming months, as both assets are expecting an approval of a spot ETF soon?
SOL surpasses XRP
SOL is experiencing record highs since May interest From crypto treasury company. SOL trading volume reached $4 billion, and XRP trades attracted over $1 million. “just” $460 million.
Source: Blockworks
As per press-time market price, the corporate treasuries totaled 4.3 millions SOL. That’s worth $905,000,000.
SOL Strategies (DFDV), Upexi, Sharps Technologies and DeFi Development Corp are some of the best SOL treasury companies. Sharps Technologies was recently able to demonstrate that it is a leading technology. secured SOL plans expansion to $1 Billion capital with $400M.
Source: Blockworks
Similar to lift-off, the trend may boost SOL’s price. Ethereum [ETH] BitMine and public companies began bidding aggressively for it.
XRP, on the other hand has seen only marginal interest from public companies for treasury. As things stand, SBI Holdings Japan & Worksport Ltd. are the only companies interested in XRP treasury.
SOL’s price chart could surpass that of XRP if these disparities continue to exist in the following weeks after the ETF approvals.
It’s worth mentioning that SOL may outperform the XRP altcoin if this indicator falls lower.
Source: XRP/SOL ratio, TradingView
SOL’s price chart has seen a 27% increase in the last few weeks. The altcoin also outperformed ETH, BTC and other major coins amid analyst’s projections for a big rally in Q4.
XRP is also experiencing massive gains. profit-taking Whales drag it down. It is important to note that XRP has recently been a strong currency. recorded The following are some of the ways to get in touch with us. highest CME Futures interest – A sign of institutional appetite. It may therefore be premature to dismiss it.
Overall, XRP/SOL could benefit from the new demand channels created by Spot Exchange Traded Funds if they are approved by SEC. SOL could have the edge, due to increased demand in crypto treasury. Especially if ETH follows its playbook.
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Source: ambcrypto.com
