ChainCatcher news, according to CoinDesk, the significant rise of SOL has pushed the SOL/ETH ratio to a historic high of 0.062, increasing by 7.5% in the past 24 hours and 13.6% over the past week. The ETH/BTC ratio has also fallen to its lowest point in three years, as ETH has completely reversed any relative gains since the SEC expressed its intention to approve a spot Ethereum ETF in May.

ChainCatcher message, well-known trader Eugene Ng Ah Sio posted on X: "One thing worth noting is that regardless of the overall market conditions, SOL shows absolutely amazing strength. The related chart shows that SOL/ETH is approaching its historical high, with buyers outnumbering sellers."OKX market shows that SOL/ETH is currently at 0.05662, close to the historical high of 0.0616, with a 24H increase of 11%.

ChainCatcher message, Kryptanium Capital founder Daniel Yan stated on X: "After three failed attempts earlier this year, the SOL/ETH trading pair has finally broken through the daily and weekly highs. The implications here are not simple. The resistance for SOL's movement has decreased by one more in the coming months."

ChainCatcher news, Matrixport co-founder Daniel Yan posted on the X platform that if the Ethereum ETF is approved within two days, the best trading strategy is to "buy SOL/ETH." The reasons are as follows: ETH has risen nearly 20% in the past 24 hours; SOL will be the next beneficiary after the ETH ETF approval; ETH/BTC rose 12% within a week after the BTC spot ETF was approved, as people anticipated the ETH ETF approval; this strategy has low market participation and is not a popular trade.He also reminded that BTC price fell 15% in the weeks following the approval of the spot ETF on January 10.

ChainCatcher news, Mechanism Capital co-founder Andrew Kang stated on X that the crazy definition is that in a bullish environment, better trades are repeatedly trying to go long on ETH/BTC and SOL/BTC (or SOL/ETH).During the first 6 to 7 years after Ethereum's birth, despite many uncertainties, Ethereum was an attractive risk asset for many Bitcoin holders. Because of this, many Bitcoin holders were willing to convert their holdings to become holders of Ether. However, over time, Ether has gradually shifted from a risk asset to a safe-haven asset, and the investment ratio between Ethereum and Bitcoin has begun to stabilize, with fewer people willing to convert.Andrew Kang believes that recent innovations such as the booming Layer 2 networks and modular technologies have instead put heavy pressure on Ethereum in a market cycle of risk appetite.Andrew Kang stated that SOL not only does not face these same issues but has also crossed the chasm to become a blue-chip L1 that has withstood the test of multiple cycles. Its current high growth is sufficient for people to allocate scale to it. Conservative large investors who were previously only comfortable with Bitcoin and Ethereum are now starting to see Solana as a simple and safe new option. It is precisely at this stage where Solana transitions from an emerging asset to a major or foundational asset that presents an investment opportunity not to be missed. In 2023, the volatility of ETH/BTC has undergone a secular shift, and even in this situation, SOL/BTC will also be a superior trading product.