Bitcoin and other major cryptocurrencies saw significant gains in early trading on Monday, with Bitcoin reaching approximately $87,480, marking a 3.71% increase. Ethereum also rose notably, climbing 4.05% to $2,093.
The total cryptocurrency market capitalization increased by 2.94%, now standing at $2.84 trillion, as positive momentum continues despite concerns over upcoming U.S. tariffs and the release of key economic data later in the week. This indicates strong investor confidence in the crypto sector.
Other top performers include XRP, Cardano, and Dogecoin, which gained 3%, 2%, and 3.8%, respectively. Chainlink, Avalanche, Hedera, and Stellar saw growth ranging from 3% to 10%.
Vikram Subburaj, CEO of Giottus, commented, “Bitcoin is holding above $86,000, registering a 3% gain today. The key resistance level to watch is $86,700; a breakout could pave the way for $90,000.”
Bitcoin’s market capitalization has surged to $1.727 trillion, with its dominance increasing to 60.73%. The 24-hour trading volume also jumped by 93% to $18.2 billion, while stablecoin transactions made up 94.74% of total crypto trading, reaching $57.58 billion, according to CoinMarketCap.
Solana was another standout, surging over 7% in the past 24 hours to trade above $139. This rally was fueled by reports suggesting that President Trump’s April 2 tariffs may be more targeted than initially expected, alleviating market concerns.
Solana’s momentum also aligns with its growing adoption. DeFiLlama reported Solana’s total value locked (TVL) reached 54.87 million SOL, the highest since June 2022. Ali Charts revealed that 11.09 million addresses now hold SOL, underscoring increasing acceptance.
Additionally, over $72 million in assets have recently been bridged from Ethereum to Solana. Solana’s weekly active addresses (17 million) far exceed Ethereum’s (1.8 million), while Binance’s growing SOL wallet balances suggest fresh accumulation following recent selling activity.
Institutional interest in Solana continues to rise, with Volatility Shares launching two Solana futures ETFs (SOLZ and SOLT) on Nasdaq on March 21. Major asset managers, including Franklin Templeton and VanEck, have applied for spot Solana ETFs, signaling increasing institutional interest in the cryptocurrency.
BitMEX co-founder Arthur Hayes shared optimism for Bitcoin, stating, “The Fed’s policy could help Bitcoin achieve $110K before retesting $76.5K.”
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