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On a day where most coins closed in the red, including leaders like Ethereum and Hyperliquid, one name stood out and clearly outperformed: Solana. Up over 4% on the day, Solana took the lead as capital rotated out of Ethereum, Bitcoin, and other majors into SOL.
This could mark the beginning of the next phase of altseason. Bitcoin had led for years. More recently, Ethereum took over, consistently outperforming the broader market. Over the last two weeks, Solana seems to have found a bottom against Ethereum and has started gaining clear momentum. This is a classic rotation and could be a sign we are entering the next stage of altseason, where newer majors like Solana and Hyperliquid begin to take charge.
Expect Solana to follow a similar path to Ethereum’s last few months. Ethereum regularly outperformed on red days, and now the same could play out with Solana. Its ecosystem is also heating up. Raydium and Jupiter, the two main decentralised exchanges on Solana, both closed up 6% yesterday, outperforming SOL itself.
As altseason progresses, we are likely to see more focused and project-specific rallies. The structure remains consistent with past cycles, even with new elements in play such as institutional demand, which was absent in previous altseasons.
Stormrake Spotlight: Hedera (HBAR) ($0.239)
Stormrake Spotlight: Hedera (HBAR) ($0.239)
