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Solana Rises While Largest Market Cap Bitcoin and Ethereum Slump: What’s the Possible Reason? By Benzinga
Benzinga- Solana (CRYPTO:SOL) has defied the collapse of blue-chip currencies to emerge as the best-performing large-cap cryptocurrency over the past 24 hours.
What happened: The fifth largest coin by market valuation jumped more than 8% on a day when Bitcoin (CRYPTO: BTC) e Ethereum (CRYPTO:ETH) bled significantly.
SOL trading volume increased 156% to $3.5 billion, catapulting it to become the third most traded cryptocurrency (excluding stablecoins) in the past 24 hours. The rally helped offset the losses seen in the previous week.
See also: Is Trump Discussing Attending Bitcoin 2024 Conference, Move to Bolster ‘Crypto President’ Image?
While not conclusive, the improvement could be attributed to the launch of Bitcoin wrapped (CRYPTO: WBTC) on Solana, as confirmed by Wormhole in an X post.
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