Data: The SOL/BTC ratio has increased by 290% since October 2023

Data disclosed by Glassnode shows that since October 2023, the SOL/BTC ratio has increased by 290%, mainly fluctuating between 0.0011 and 0.0005 SOL/BTC. During this period, its performance significantly outperformed ETH, but unlike ETH, the price of SOL did not show any significant increase after the approval of Bitcoin spot ETFs. In addition, the performance of altcoins in recent weeks has been disappointing. The performance of ETH generally surpasses altcoins and dominates in the total cryptocurrency market value with an increase of 4.2%.