Solana, Ethereum, and TONCOIN topped the monthly crypto gains as bulls and bears debate the direction of the assets. In general, a slightly bullish mood was observed in the market today as Bitcoin (BTC) and other assets inched higher. In the long term, these gains could lead to a broader upswing in other crypto assets.
Solanaa favorite of institutional investors, is up 6% in the past 24 hours and trading at $171.1, maintaining its monthly inflows at 22%, although the asset is down 5.4% this week as most assets have seen a slight correction.
Ethereum leads the rise
Ethereum took the cryptocurrency market by storm last week, following spot. ETH ETF Approved by the U.S. Securities and Exchange Commission (SEC), the asset has created excitement and renewed interest in the cryptocurrency industry.
ETH is trading at $3,928, up 2.1% today and 24.98% this week. The largest altcoin is leading the charge with a monthly change of over 22% as the price attempts a bullish breakout. Decentralized finance (DeFi) activity on the network's protocols is booming with consistent inflows.
The total value of the Ethereum blockchain is $66.9 billion, with Lido, EigenLayer, and AAVE taking the top spots. Toncoin has seen some positive developments this year that have led to increased trading volume for the asset. TON has surged 22% this month, trading at $6.3. With a market cap of $22 billion, daily trading volume has increased 52.8%. TON hit an all-time high of $7.65 in April, but is now trading 16% below that figure.
The bulls aren't slowing down
These assets have recorded gains thus far, but with current sentiment on the upswing, market bulls are not slowing down. Following the approval of the spot ETF, Ethereum price has approached $4,000, with daily trading volume surging by over 30%. Altcoin sentiment has generally rebounded as traditional investors gravitate towards Ethereum products.
Solana and Ton Coin The surge in on-chain activity is also fueled by broad community support: the total value locked in the Solana ecosystem is $4.83 billion, up 2% today as the protocol's user base grows. Similar momentum is being seen on Toncoin following new announcements on the platform.
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