Solana (SOL) Emerges as One of the Week's Top Performers, Spiking 9.5% Despite Market Volatility

After a week of intense volatility driven by escalating global trade tensions, the cryptocurrency market wrapped up on a positive note — with Bitcoin up 2.1%

In a week marked by heightened volatility due to escalating global trade tensions, the cryptocurrency market displayed resilience, with Bitcoin rising 2.1% despite broader market unease.

Among the top 20 digital assets, Solana (SOL) emerged as one of the outperforming tokens, registering a 9.5% gain over the past week by 12 p.m. EST Friday, closely followed by Avalanche (AVAX) with a 12.8% surge.

On the other hand, the world’s second-largest cryptocurrency, Ethereum (ETH), saw a 8.4% decline, rendering it the biggest loser among top cryptocurrencies.

Chart: Benzinga Pro

Solana Price Action: From Sudden Drops to Strong Recovery

Solana commenced the week trading at nearly $119, but the knock-on effects of a broad-based sell-off—sparked by new U.S.-China trade war tariffs—saw the token slump to below $98 in less than 24 hours.

However, the crypto asset staged a notable comeback, driven by U.S. President Donald Trump’s surprising decision to halt some reciprocal tariffs for 90 days. This policy shift catalyzed a mini-rally, aiding SOL in erasing a large portion of its April 7 drop.

The recovery wasn’t without turbulence. After dipping once again and hitting a low point just below $110, Solana surged to a weekly high of $130.72 on Friday at 10 a.m. EST.

This price action highlights the volatile yet resilient behavior of Solana, which remains a key player in the decentralized finance and NFT ecosystems.

Avalanche, Hedera Show Similar Chart Movements

Both Avalanche (AVAX) and Hedera (HBAR) displayed similar chart movements—steep declines followed by strong recoveries.

AVAX began its surge on Monday, rising from just over $16 to peak at $20.54 by Friday at 11 a.m. EST, registering the highest weekly gain among top-20 assets.

HBAR, on the other hand, saw a rally from a low of $0.1435 to a high of $0.1739, a level at which it remained stable for the next three days.

These upward trends align closely with market optimism spurred by geopolitical easing and a wave of investor bargain-buying following the sudden drops.

Ethereum Remains Biggest Loser

In stark contrast, Ethereum (ETH) ended the week as the biggest loser among top cryptocurrencies, with an 8.4% decline.

The “Black Monday” crash saw ETH plummet to $1,431, hitting its lowest price point in over two years.

Unlike its peers, Ethereum failed to recover significantly and remained below $1,800, the level it started the week at.

The lesser performance of Ethereum is particularly noteworthy given its dominant role in the crypto ecosystem. Its inability to rebound like Solana, Avalanche, and Hedera could reflect broader investor concerns regarding ETH’s network congestion, gas fees, or current macroeconomic sentiment.