The post This Week in Coins: Bitcoin Rally Cools and Solana Explodes appeared on BitcoinEthereumNews.com.

Illustration by Mitchell Preffer for Decrypt. Bitcoin’s fortnight long rally cooled off this week, but several of the biggest altcoins continued posting double digit percentage gains, including Ripple’s XRP, Solana (SOL), and Cardano (ADA).  Entering the weekend, Bitcoin (BTC) grew by 2.7% over the last seven days to hit its current price of $34,802. Much of its price appreciation over the last two weeks was down to hype that an exchange-traded fund (ETF) would soon be approved stateside.  Suffice to say, that hasn’t happened yet—but one analyst at investment research firm Bernstein said in a note to clients on Tuesday that it could happen in the first quarter of 2024 and may even drive Bitcoin’s price to $150k by 2025.  Bitcoin’s biggest competitor, Ethereum (ETH), matched the market leader’s pace and grew 2% this week to change hands at $1,809 as of Friday.  Solana (SOL) undoubtedly posted the biggest gains, growing 22.9% over the week to trade at $39.58. At its peak last week, the coin was 80% higher than it was at the start of the month. This is down to a steadily growing developer community that sees Solana (SOL) as a real contender to the Ethereum blockchain.  Solana’s rally briefly dipped 5% on Friday amidst sizable SOL transfers from wallets linked to FTX, following a court-approved liquidation of $3.4 billion of the collapsed exchange’s digital assets in September, including $1.16 billion in SOL. The coins and tokens in the top thirty by market cap that posted the most notable rallies this week include XRP, which rose 11.4% to $0.611593, Cardano (ADA) grew 11.2% to $0.320599, Toncoin (TON) rallied 9.2% to $2.25, Polkadot (DOT) surged 1.7% to $12, Uniswap (UNI) rallied 14% to $4.65, Stellar’s XLM grew 9.6% to $0.123115, and Cosmos Hub (ATOM) grew 10% to $7.75. In…

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Filed under: News - @ November 4, 2023 5:12 am