The crypto market has experienced significant movements over the past 24 hours. Solana and Ethereum have marked new all-time highs in their trading ratio, whereas DOGE and XRP have witnessed price declines.
Record Highs for Solana and Ethereum
Per CryptoBusy data, the SOL/ETH ratio surged to a new peak. This surge is driven by increasing interest in Solana’s ecosystem, fueled by its expanding DeFi and NFT platforms. The adoption of Solana's blockchain is on the rise, leading to surpassing Ethereum in these aspects, thus resulting in the rise.
DOGE and XRP Price Decrease
DOGE and XRP have seen notable price declines within the last day. According to CoinGecko, DOGE dropped by 3.01%, settling around $0.1367, while XRP decreased by 1.41% to trade at $0.5255. The drop in these tokens coincided with reports of Bitcoin ETFs experiencing an $80 million loss.
Other Key Developments in Crypto
A new Visa debit card was introduced by Avalanche to bridge the gap between traditional banking services and digital assets. This move could foster broader utilization of AVAX tokens in everyday transactions, aligning with the greater goal of expanding crypto utility.
The crypto market continues to show considerable fluctuations, highlighting its susceptibility to dynamic changes. Recent developments point towards significant trends and shifts impacting major tokens and platforms.