$ETH

Cryptocurrency traders are observing a possible change in the relationship of SOL to ETH

, as a series of scandals involving memecoins has affected the sentiment in the Solana network.

After reaching a high of over 0.08 SOL per 1 ETH, the SOL/ETH ratio changed direction on February 15, dropping to approximately 0.06 SOL/ETH on February 18, according to TradingView data.

“The narrative of Solana as the best chain for retail onboarding has just shifted to being associated with fraudulent behaviors and insider trading. This will take time to correct,” said Andy, co-founder of the venture capital firm Rollup Ventures, in a post on February 17 on platform X.

Meanwhile, “Ethereum is poised for mass adoption. The tides are changing,” Andy added, noting that the SOL/ETH ratio is a barometer of the shift in market sentiment.

---Taken from the internet--+