Saturday, February 4

Solana (SOL) News: In what comes as a welcome trend, a few altcoins amassed huge gains in the last few days. The altcoin price surge came at the back of a prolonged sideways movement for the Bitcoin (BTC) price. Some of these gains resemble the price rise during the altcoin season in the last bull run market cycles. In this context, BTC price still fails to find support at above $17,000 level.

Also Read: How Solana Meme Token BONK Sharp Selloff Will Impact SOL Price?

Altcoin Season Ahead?

In the last one week, as many as three major altcoins, Solana (SOL), Lido DAO token (LDO) and Bitdao (BIT) shot up by more than 40% in value. Another cryptocurrency, Aptos (APT) price rose by around 21% in the space of just one week. This can be seen as a major turnaround considering the bearish sentiment the market experienced even two weeks ago. The most surprising turnaround comes for Solana (SOL), which is up by 40% compared with last week. the cryptocurrency took a huge hit in price due to its links with FTX and Alameda Research.

There is also some hype around SOL’s first meme token BONK. The BONK cryptocurrency is growing steadfast in value along with SOL’s recovery. As of writing, BONK Price stands at $0.000002183, up by around 100% in the last 24 hours, according to price tracking platform CoinMarketCap. Similarly, Ethereum Classic (ETC) is witnessing a resurgence in the last 24 hours with a rise of 13.50%. According to Santiment Insights, ETC trading volume is currently high. Also, traders are shorting the cryptocurrency in huge volumes on exchanges.

Also Read: Ripple CEO Expects Breakthrough In Crypto Rules Amid Pending XRP Lawsuit Ruling


Know More: Another Top Exchange Lists Solana’s BONK, Dries Up SHIB And DOGE Volume

Meanwhile, the BTC price continues to hover below the $17,000 level. As of writing, BTC price stands at $16,830, up 0.62% in the last 24 hours.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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