- SOL and ETH have recently become a hot topic on social media.
- This week, SOL and ETH prices entered a new price range.
Social media platforms were buzzing with discussions about Ethereum. [ETH] and solana [SOL] Recently, we have seen significant price movements as we enter new price ranges.
There has been a significant change in Total Value Locked (TVL) over the last month, adding to the excitement surrounding these assets.
Solana and Ethereum view social metrics positively
According to data from Lunar Crush, Solana and Ethereum have recently experienced similar interesting social media trends. Ethereum's social dominance was 9.35%, while Solana's was 8.85%.
SOL received 42.4 million social interactions, while ETH recorded 45.18 million. Both assets boasted positive sentiment, with a positivity rate of 85%.
However, an analysis of Santimento's social control reveals changes. As of this writing, Solana's social advantage has dropped to around 4.7% and Ethereum to his 7%.
Source: Santiment
SOL and ETH enter new price range
Analysis of Ethereum (ETH) and Solana (SOL) price trends explains the recent increase in social indicators.
Ethereum’s daily timeframe chart shows that Ethereum has recently re-entered the $3,000 price range. On May 18th, ETH added less than 1%, pushing the price into the $3,100 zone for the first time in weeks.
At the time of this writing, ETH was trading at around $3,107, down around 0.5%.
Despite the slight decline, the relative strength index (RSI) showed that ETH is still in a weak bullish trend.
Source: TradingView
On the other hand, Solana has been experiencing a continuous uptrend for the past few days. According to the chart, SOL's price has increased about 20% from May 15th to the time of writing.
At the time of writing, SOL was trading at around $172, an increase of less than 1%. The RSI showed that SOL continues to have a strong bullish trend.
Source: TradingView
Solana is expected to see more TVL growth than Ethereum
An analysis of Ethereum and Solana’s Total Value Locked (TVL) shows that both have increased over the past seven days and month. However, Solana experienced an even greater rise.
read ethereum [ETH] Price prediction for 2024-2025
According to DefiLlama data, Solana's TVL has increased by about 11.60% in the past 7 days and by about 23.8% in the past month.
Ethereum’s TVL has risen about 4.6% in the past seven days and 6.2% in the past month. At the time of writing, SOL's TVL was $4.7 billion and ETH's TVL was approximately $55.2 billion.
