Solana Surges 22% To New ATH While BTC Reclaims $47,0000: Analysis

Solana surges 22% to a new ATH while bitcoin reclaims the $47,000 price point as per the latest altcoin analysis that we have in our altcoin news today.

Bitcoin managed to reclaim $47,000 once again while Solana went on a tear and surged to a new ATH. BTC continued to trade around $47,000 over the past 24 hours after it dropped to a new low below $46,400 and most altcoins stalled since a day ago except for Solana. SOL went on to chart another all-time high above the $83 price range after the double-digit surge. The alternative coins similarly to their ledger, lost huge chunks of their value over the past few days and ETH, for example, went from trading to $3360 to below $3100 and as of now, it recovered some ground standing above $3100.

Cardano painted a consecutive ATH and surpassed BTC in terms of Twitter mentions so it is now slightly in the green since a day ago and sits at $2.6. Dogecoin and Binance coin as well as ripple charted minor losses once again while Polkadot and Uniswap remain in the green. LUNA surged by 9% and neared $30 and Solana stole the show once more and surged by more than 20%. SOL resumed its recent bull run and charted another ATH hours ago.

Arweave is another gainer over the day with an 18% increase in one day and in contrast, Decentraland, XiFin, and Dash lost about 7% of their value since yesterday. Despite the fluctuations, the market cap remained over $2 trillion. The main cryptocurrency dipped over the past few days and reached a new multi-month high above $50,000 and remained north at the level for a while. The bears didn’t allow for more increases as they put pressure on the asset and BTC started dropping fast. In a matter of few hours, it lost the $50,000 mark and crashed to a daily low of $46,300.

Solana surges 22% to a new ATH but Bitcoin’s market capitalization remains below $900 billion with its dominance over the alts increasing over 44%.

As recently reported, The fast-growing sector of Defi is getting another boost as the Chainlink price oracles went live on the Solana blockchain. The price oracles are considered a crucial part of the Defi infrastructure as they help other platforms to receive reference data like prices of various cryptos and tokens in real-time. Defi or short for decentralized finance is a suite of blockchain-based financial services which replicate most of the common offerings from traditional banks which could be as simple as lending and borrowing or complex as derivatives trading.