JAKARTA - Today, the crypto market recorded an increase in Solana (SOL) and Cardano (ADA), being a leader in recovery among the top coins. After a sharp decline, which caused Bitcoin and other crypto assets to decline deeper, the total market capitalization has now reached 2.28 trillion US Dollars (approximately IDR 37.39 quadrillion), up 3.35% today. Prior to price corrections, the total value of the crypto market even reached more than 2.6 trillion US Dollars (approximately IDR 42.6 quadrillion), with high institutional inflows.
The crypto community calls Solana and Cardano an 'ETH killer' that has attracted inflows in the last 24 hours, as the momentum increases more widely. In addition, decentralized meme coins and financial tokens (DeFi) also recorded an increase. As a leading smart contract blockchain, Solana has a significant impact on DeFi's activity and volume.
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According to Coingape's information, in recent years, Solana has gained a reputation as an asset that outperformed other top assets during market recovery. Today, SOL rose 5.98%, completely removing weekly outflows. Although weekly figures are now in the green zone, with assets trading at 137.73 US Dollars (approximately IDR 2.25 million), the 30-day figure still shows a 17% drop, signaling previous losses.
Not only Solana, Cardano also showed significant recovery. ADA recorded a solid increase and placed it as one of the most sought after assets in the crypto market. This coin got a significant inflow after experiencing heavy selling pressure some time ago.
Not only Solana and Cardano, several meme coins and DeFi tokens also recorded significant increases. This shows that market sentiment is starting to turn positive after a prolonged period of uncertainty. The total crypto market cap that rose to 2.28 trillion US dollars is a strong indication that investors are starting to believe again in the long-term potential of digital assets.
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