Solana (SOL) and Cardano (ADA) are leading the crypto market’s gains, showing slight inflows over the past 24 hours. The total market cap has risen to $2.28 trillion, up 3.35% today.
Previously, it was over $2.6 trillion with high institutional inflows. Known as ETH killers, Solana and Cardano have recorded inflows along with gains in meme coins and DeFi tokens. Solana’s role as a leading smart contract blockchain impacts DeFi activities and volumes.
Solana Leads Market Rebound with Significant Gains
In the past couple of years, Solana has earned a reputation for outpacing top assets during market rebounds. Today, SOL is up 5.98%, completely eclipsing its weekly outflows. The weekly figures are now in the green, with SOL trading at $137.73. However, the 30-day numbers are down 17%, reflecting previous losses.
Solana’s market cap has soared to $63.5 billion, while daily trading volumes have fallen to $2.5 billion. Despite the drop in trading volumes, SOL’s price has moved past several resistance levels, and bulls are projecting a new price run. The rebound could see the asset reclaim previously lost levels.
At press time, the total value locked (TVL) on Solana is $4.25 billion, a 6.44% increase in the last 24 hours, according to DeFiLlama. DeFi volumes are also up as market activities pick up, further indicating a positive trend for Solana.
Cardano Sees Gains Amid Market Rebound
Cardano is currently trading at $0.3932, having gained 4.5% in inflows over the last 24 hours, which has helped to offset some of its previous losses. ADA’s weekly numbers have jumped 3.2%, increasing its market cap to $14 billion.
Network upgrades continue to be a major driver for Cardano’s performance amid current macroeconomic factors. While ADA’s long-term gains have decreased, institutional investors are optimistic about a potential interest rate cut as a bullish factor this year.
Other crypto assets, including Bitcoin (BTC) and Ethereum (ETH), have also recorded gains, reflecting a broader market rebound.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
