The crypto market has seen worthy a look movements over the past 24 hours, with Solana and Ethereum marking a new all-time high in their trading ratio. Besides, major tokens like Dogecoin (DOGE) and XRP have witnessed a price dip.
Alongside these developments, key events across the crypto landscape, from a new Visa card launch to debates on decentralized platforms, shaped the market’s narrative.
Per data by CryptoBusy on X, the SOL/ETH surged to a new peak. This comes amid increasing interest in Solana’s ecosystem, driven by its growing DeFi and NFT platforms.
The adoption of Solana’s blockchain is on the rise, and this has led to it usurping Ethereum in these factors, hence the rise.
Moreover, in contrast to Solana’s momentum, Ethereum has faced congestion issues, despite its ongoing upgrades. The combination of these factors may have contributed to the recent shift in trading volume, favoring Solana over Ethereum.
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DOGE and XRP Lead Decline in Major Tokens
DOGE and XRP saw notable price declines within the last day. Per data from CoinGecko, DOGE dropped by 3.01%, settling around $0.1367, while XRP dipped by 1.41% to trade at $0.5255.
The drop in these tokens coincided with reports of Bitcoin ETFs experiencing an $80 million loss, potentially influencing broader market sentiment. Additionally, concerns around regulatory uncertainty could further affect major altcoins like DOGE and XRP.
Avalanche Introduces Visa Debit Card Amid Other Market Updates
A new Visa debit card has been introduced by Avalanche (AVAX). The goal of this project is to close the gap between traditional banking and the digital asset space by making it simpler for users to spend their AVAX tokens in routine transactions.
The action might promote new practical applications for AVAX, which would be in line with the larger objective of extending the reach of crypto.
In other news, @MagicEden announced support for Berachain and ApeChain, highlighting the growing acceptance of multi-chain platforms. Similarly, Chainlink’s (LINK) debut of privacy technology saw a positive market response, pushing its token to a multi-week high.
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Show more +Read also: Legal Titans Clash Over Ripple’s Campaign Moves as XRP Price Struggles
Other Key Developments in the Crypto Space
Several other developments were highlighted in the recent update. Polymarket’s emphasis on election odds demonstrates how crypto platforms are interacting with actual events, particularly in light of the impending US elections.
According to Arkham Intelligence data, reports also indicate that Tesla’s $780 million worth of Bitcoin holdings are still intact despite recent swings.
Discussions around governance in decentralized platforms have been sparked by Uniswap’s intention to launch Unichain without DAO approval. The rise of AI agents in crypto was also noted as a key trend, hinting at future intersections between blockchain and AI technology.
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