Solana (SOL) Explodes 45% Weekly, Bitcoin (BTC) Maintains $37K (Weekend Watch)

2023-11-12 09:21:57

While the price of bitcoin and several of the larger-cap alts has remained relatively sluggish over the weekend, others, such as SOL, AVAX, and DOT, have continued to surge.

Avalanche’s price pump is particularly impressive, as the asset has skyrocketed by 30% overnight.

BTC Stalls at $37K

A lot can change in the cryptocurrency market within the span of the week, which has been the case now. On Tuesday, the primary digital asset fell to $34,500 after failing to overcome the $35,000 level despite a few attempts.

However, the bulls took charge at this point and drove BTC north hard. Two days later, the asset shot up to $38,000 for the first time in a year and a half. It was violently rejected there and dumped by over two grand within hours.

Nevertheless, it bounced off and spiked to $37,500 yesterday. It has been unable to maintain its run since then, but it still trades above $37,000 as of now.

This means that its market capitalization is still above $725 billion, but its dominance over the alts has taken one more hit and is down to 51% on CMC.

BTCUSD. Source: TradingView## SOL, AVAX on a Roll

Solana’s native cryptocurrency has been among the top performers lately. The past 24 hours have only solidified this, as the asset has soared by another 10%. On a weekly scale, SOL is up by more than 40% and trades close to a multi-month peak of its own at $60.

AVAX’s price performance on a daily scale is in a league of its own, though. Avalanche has soared by 30% and currently trades above $18.

Chainlink, Polkadot, Aptos, Near, and RUNE have all registered impressive gains. In the case of RUNE, the daily surge is by 25%.

The total crypto market cap has added around $20 billion daily and stands well above $1.4 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto

AVAX6.4%

BTC2.54%

DOT5.81%

SOL4.48%

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