Bitcoin, Cryptos & Solana – American Wrap 25 March

Bitcoin (BTC) price bounced back over the weekend with sustained gains into the new week. After recording an intraday high of $70,000, the question poses itself: are the bulls fully back or is this bounce an exercise in futility for greedy longs?

The effect of Bitcoin’s all-time high on the crypto market seems to have cooled off as many cryptocurrencies have posted weak growth in the past two weeks. However, a few altcoins have crafted their own path, breaking out from the consolidation happening in most cryptocurrencies. These altcoins include Internet Computer (ICP), Toncoin (TON), Near Protocol (NEAR) and Gala (GALA).

The recent surge in meme coins tied to Solana’s ecosystem has led to spike in activity on the SOL chain, with the number of new and active addresses as well as its Total Value Locked (TVL) reaching the highest levels in two years. SOL price resumed gains on Monday after last week’s sell-off, rising by nearly 4% on the day in a session in which the biggest crypto assets are all in the green.

 

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