NewsletterWill Solana, Ethereum, and Toncoin’s 22% Monthly Inflow Halt?
Solana, Ethereum, and Toncoin top crypto monthly gains with bulls and bears debating the direction of assets. Generally, the market has seen a slight bullish sentiment today as Bitcoin (BTC) and other assets inch forward. In the long term, these gains add to wider gains for other crypto assets.
Solana, which has become an institutional investor favorite, trades at $171.1, surging 6% in the last 24 hours while maintaining 22% monthly inflows. However, the asset is down 5.4% this week due to the slight correction seen by most assets.
Ethereum Leads Gains
Ethereum dominated crypto spaces last week following spot ETH ETF approvals by the United States Securities and Exchange Commission (SEC). The assets sparked a frenzy in crypto spaces leading to renewed interest.
ETH trades at $3,928 moving up 2.1% today as 24.98% this week. Monthly movements on the largest altcoin have topped 22% leading the pack as its price attempts a bullish breakout. Decentralized finance (DeFi) activities around the network’s protocols have rallied with consistent inflows.
Total values on the Ethereum blockchain stand at $66.9 billion Lido, EigenLayer, and AAVE leading the pack. Toncoin has seen several positive developments this year leading to increased volumes around the asset. TON has surged 22% this month and exchanges hands at $6.3. Daily trading volumes are up 52.8% as its market cap pieces $22 billion. TON hit an all-time high of $7.65 in April trading 16% behind that number.
Bulls Are Not Slowing Down
While these assets have recorded previous gains, market bulls are not slowing down as present sentiments point upward. Ethereum price inches closer to $4,000 after the approval of spot ETFs with daily trading volumes soaring over 30%. As traditional investors become attracted to Ethereum products, the general altcoin sentiment recovers.
Solana and Toncoin also have a wide range of community support as on-chain activity surges. The total value locked on the Solana ecosystem is $4.83 billion, a 2% growth today amid a rise in protocol users. Similar momentum is also seen in Toncoin following née announcements on the platform.
Also Read: Top Cryptos to Buy Under $2 To Make Millions
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