CandleFocus Bitcoin Trader Warns of Correction as BTC Dominance Reaches 2021 Levels; Solana Leads Market Gains
2024-10-24
Author: Content Editor
Solana's native token, SOL, has surged by 5% to $173, leading the market gains with a 14% increase over the week. Bitcoin's market dominance has reached over 57%, the highest since April 2021, indicating a preference for its stability over altcoins. The Solana network has experienced increased activity, driven by AI-themed memecoins, leading to record-high token issuances and revenue through platforms like Pump. SOL and ecosystem memecoins, such as POPCAT, have led the market gains, while bitcoin and major cryptocurrencies have remained mostly flat.
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