Altcoins Ether, Solana, and BNB Surge While Bitcoin Gains Modestly
Major altcoins showed stronger performance than bitcoin on Wednesday, despite a declining risk appetite in broader markets.
- BNB surged 6% to an all-time high of $875.
- Ethereum's ether rebounded 7% to $4,350, erasing Tuesday's losses, potentially due to treasury firms buying ETH.
- Solana gained 6.1%, while ChainLink and AAVE rose by 10% and 7%, respectively.
- Bitcoin advanced 1.4% to just above $114,000 amid declines in major stock indexes (S&P 500 down 0.2%, Nasdaq down 0.5%).
- Bitcoin's dominance is nearing a six-month low, indicating a shift towards smaller, riskier tokens.
- Analysts suggest that current conditions may lead to selective growth in quality projects rather than the extreme rallies seen in previous cycles.
