Crypto Market Cap Reached 4-Month High: Solana (SOL) Skyrocketed 30% to New ATH (Market Watch)

The past 24 hours saw another multi-month high for bitcoin as the asset pushed north again and touched $53,000. Most altcoins have stalled a bit except for Solana. SOL has resumed its bull run with another all-time high at $190.

SOL’s Latest Record

The alternative coins marked impressive runs lately, with Ethereum leading the pack. ETH spiked to above $4,000 for the first time since mid-May just a few days ago. However, the second-largest cryptocurrency has retraced since then and currently sits below $3,900.

Cardano also went to new highs in the past few weeks, but it has dropped by 7.5% in a day as some issues connected to the Alonzo launch were discovered by community members.

Binance Coin exceeded $500 yesterday, but a 4.4% drop has driven the token back to $480. Dogecoin, Chainlink, Uniswap, and Litecoin are also in the red, while Polkadot and Ripple have marked minor decreases.

Solana is once again the most impressive gainer. SOL has exploded by nearly 30% in a day to register a fresh all-time high at roughly $190.

In fact, the entire market was looking well into the green before the past hour when a sudden market-wide crash took the price down with a few percentages.

Cryptocurrency Market Heatmap. Source: Coin360

Fantom’s performance is even more remarkable in the past week. FTM is up by 29% in a day and 105% in 7 days to $1.70.

THETA, FTX Token, NEAR Protocol, and Algorand follow suit. Ultimately, the cumulative market capitalization of all cryptocurrency assets reached a 4-month record as well at $2.4 trillion.

Bitcoin Neared $53K

With the impending legal adoption from El Salvador, and the country’s first BTC purchases, the price of bitcoin has been slowly but surely increasing in the past several days.

Bitcoin had fallen below $47,000 just last week, but the bulls started pushing it north again. Thus, it firstly reclaimed $50,000. Instead of retracing as it did the last few times, it faced this level, this time BTC kept marching upwards.

As a result, it spiked above $51,000 and $52,000. It even touched $53,000 a few hours ago, which became the highest price level since mid-May.

As of now, it has retraced by less than 2% and it’s currently trading at around $51,300. Its market capitalization is about $30 billion away from $1 trillion, while its dominance has increased slightly to 42%.

Chart by TradingView