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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-token-takes-the-spotlight-as-crypto-market-surges/" data-wpel-link="internal">Solana Token Takes the Spotlight as Crypto Market Surges</a><br></p>
<p style="text-align: justify">Once again, Solana’s native token SOL has taken center stage. As Bitcoin (BTC) briefly surpassed the $50,000 mark late on Monday, SOL was among the top beneficiaries of the growing bullish sentiment among investors.</p> 
<h2 id="current-state-of-altcoins">Current State of Altcoins</h2> 
<p style="text-align: justify">Following the opening of the New York market on Monday, buying pressure on Bitcoin increased, and during this period, SOL’s price jumped by 8%. In the same timeframe, Ethereum (ETH) rose by 7%, while Avalanche’s AVAX, BNB Coin (BNB), and Cardano’s <a href="https://en.coin-turk.com/can-cardanos-ada-surpass-the-20-price-level-analysts-are-optimistic/" data-wpel-link="internal">ADA</a> saw a more modest increase of 3%.</p> 
<p style="text-align: justify">Excluding stablecoins, the liquidity index calculation of the top twenty tokens by capitalization and volume also showed a 4% increase.</p> 
<p style="text-align: justify">Some Ethereum ecosystem tokens, such as the famous staking platform Lido’s LDO, tokens from layer-2 projects like Arbitrum’s ARB and Mantle’s MNT, surged by 7% following the ETF application presented by <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> giant Franklin Templeton last evening, securing their place on the list of risers.</p> 
<p style="text-align: justify">This growth in high-volume and alternative tokens indicates that Bitcoin’s rise to the $50,000 level, a first since the end of 2021, is being followed. Looking at spot bitcoin ETFs, it was revealed that since trading began about a month ago, more than 192,000 tokens had been purchased as of Friday.</p> 
<h2 style="text-align: justify" id="is-individual-user-interest-remaining-low">Is Individual User Interest Remaining Low?</h2> 
<p style="text-align: justify">Meanwhile, some market observers have noted that despite the price increase, Bitcoin’s Google search trends remain at their lowest level, suggesting that individual investor interest is still low.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-314043" src="https://coin-turk.com/wp-content/uploads/2024/02/bitcoin-google-coin-turk-com.jpg" alt="" width="485" height="656"></p> 
<p style="text-align: justify">Google Trends helps users compare different search terms.</p> 
<p style="text-align: justify">However, this should not be interpreted as a decrease in current searches. The decline can only be interpreted as a decrease in popularity when compared to other terms. This decrease in volume could be interpreted as people being apprehensive about short and medium-term price pullbacks when considering investing in cryptocurrency.</p> 
<p style="text-align: justify">Bitget Research Chief Analyst Ryan Lee made the following statement:</p> 
<blockquote> 
 <p style="text-align: justify">There is no imminent news other than the halving that could yield returns in the medium and long term and have a price correlation with Bitcoin. It’s important to consider the market’s psychological levels, such as BTC prices changing up to the previous ATH before $50,000, which could lead to larger price pullbacks.</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solana-token-takes-the-spotlight-as-crypto-market-surges/" data-wpel-link="internal">Solana Token Takes the Spotlight as Crypto Market Surges</a></h5>

Solana Token Takes the Spotlight as Crypto Market Surges

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