Solana Continues To Outperform The Market As Bitcoin Surges Past $35k

TL;DR

• Solana is one of the best performers amongst the top 20 cryptocurrencies by market cap.

• Bitcoin briefly touched the $35,800 level on Tuesday before retracing.

Solana Surges By 5%

SOL, the native coin of the Solana ecosystem, is one of the best performers amongst the leading 20 cryptocurrencies by market cap. It is up by more than 20% in the last 24 hours and currently trades above $43 per coin.

SOL reached the $44 mark late on Tuesday before retracing as cryptocurrencies rallied higher in the last few hours. It is only outperformed by TON, which added more than 8% to its value in the last 24 hours. 

The rally came as Bitcoin saw a surge in its price for the first time in nearly a week. Bitcoin had been trapped around the $35k region over the last couple of days but broke out late on Tuesday to reach the $35,800 level.

However, Bitcoin has since retraced and is now trading below $35,300 per coin. However, market analysts remain bullish that Bitcoin could reach the $40k region before experiencing a pullback.

Ether, the second-largest cryptocurrency by market cap, is down by less than 1% in the last 24 hours and is now trading at $1,878 per coin. 

The total cryptocurrency market has remained at $1.33 trillion as the market experienced a mixed performance in the last couple of hours.