Bitcoin, Ethereum Mostly Flat as Solana Price Sags 5% Bitcoin and Ethereum remain stable while the price of Solana drops by 5%.
On Tuesday morning, Bitcoin and Ethereum remained stable in price, while Solana’s price dropped by 5% from the previous day. Ethereum briefly surpassed $3,000 before dropping back down to $2,653 at the time of reporting, according to CoinGecko data. It has decreased by 0.4% compared to yesterday, but has increased by 11% since last week. Bitcoin appears to be pausing its upward momentum after almost hitting $53,000 yesterday. Currently, Bitcoin is being traded at $51,491.97, representing a 0.8% decrease from the previous day according to CoinGecko data. The cryptocurrency has been receiving significant attention and increased excitement due to the activity surrounding spot Bitcoin ETFs in the United States. Net flows for these funds have exceeded $3 billion as of the previous week. Anticipation for the upcoming Bitcoin halving has also contributed to the buzz, with traders expecting it to propel the world’s oldest and largest cryptocurrency by market capitalization into a bullish market. Meanwhile, the situation for Solana has been more varied. The total value locked in decentralized finance projects on the platform, founded in 2020 as a direct rival to Ethereum, has surpassed $2 billion for the first time in a while. SOL, the native token of the ecosystem, has experienced a significant decrease in price since yesterday. As of now, SOL is being traded at $105.40, which is 6.5% lower than yesterday and 3.2% lower than a week ago, according to CoinGecko data. Solana has been active this year due to various large-scale airdrops such as Jupiter, Dymension, and meme coin WEN. The article was edited by Ryan Ozawa. Keep informed about crypto news by subscribing to daily updates in your inbox.