Digital assets spiked in line with traditional assets as bulls looked to recover losses picked up at the start of the week.
Crypto prices rebounded on Monday, with several assets recording triple-digit gains in the last 24 hours. The crypto market recovered sharply at the start of the week as several institutional investors returned to the market.
Several reports on Monday noted that President Trump’s 90-day tariff pause sparked a recovery in U.S. stocks and poured trillions into the market. The move also saw several hedge funds returning to the market with large-cap trades.
At the same time, several Bitcoin ETFs recorded outsized gains as institutional demand outweighed the technical outlooks. The Bitcoin ETFs’ volume surged, and several institutional investors set their sights on altcoin ETFs for the second quarter.
The crypto market is known for its volatility, and several analysts expect increased participation from retail traders if the Biden administration's executive order on crypto is passed. The order will focus on stablecoin regulation and consumer protection in the DeFi sector.
The crypto market cap stands at $1.51 trillion, and Bitcoin's price is above $69,000. At the time of writing, Solana’s price stands at $111.8, and its market cap is above $57.3 billion.
While Solana’s rebound sparked wider interest, XRP dominated altcoin gains in the last 24 hours. The asset posted a massive 10% recovery in hourly trading data.
The post Solana Whale Accumulates 32,000 SOL Tokens Following Significant Price LeapH appeared first on Benzinga.com.
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