The crypto market started the day with an upward trend as the leading cryptocurrency Bitcoin surged to levels of $26,500 in the early hours of the day. SOL, the native cryptocurrency of the Solana blockchain, gained momentum in the crypto market and reached levels of $18.6 with its recent increases, influenced by this upward trend in the crypto market.
The crypto market, which started the week with a sharp decline, has rebounded during the week. The leading cryptocurrency Bitcoin (BTC) reached levels of $26,500 in the early hours of the day.
Most altcoins in the crypto market have recorded varying degrees of increases since morning. The total market capitalization of the crypto ecosystem reached $1.04 trillion, according to CoinMarketCap (CMC) data.
Ethereum (ETH), which fell to levels of $1,540 at the beginning of the week, surpassed $1,600 with its recent price increases. Other cryptocurrencies such as Hedera (HBAR), THORChain (RUNE), and Conflux (CFX) also recorded high rate increases during the day, influenced by the upward trend in the market.
SOL, the native cryptocurrency of the Solana blockchain, experienced a downward momentum like most altcoins in the crypto market, recording a loss of nearly 5% in the past week. SOL tested the $17.5 levels multiple times with a significant decline at the beginning of the week.
However, with Bitcoin surpassing the $26,500 levels in the early hours of the day, Solana (SOL) also started to rise again. After surpassing the $19.2 levels during the day, SOL started trading at around $18.6 with its recent price movements.
At the same time, Solana (SOL) ranked among the top gaining cryptocurrencies in terms of percentage among the top 100 cryptocurrencies with the highest market capitalization, according to CMC data. With the recent increases, Solana’s (SOL) total market capitalization approached $8 billion during the day.