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Solana eyes all-time high as Ripple rally pauses

The market has quieted down in recent days.

By Mike Hesp
• 2 min read
Solana eyes all-time high as Ripple rally pauses

In the past few days the market has been quieter. Bitcoin trades between 89,000 and 92,000 dollars, just a few percent away from the all-time high of 93,495 dollars. Bitcoin's market cap sits at $1.81 trillion. This makes Bitcoin worth more than silver and the world's largest oil company.

Ethereum, the second-largest cryptocurrency, meanwhile stays flat. With a 6% drop over the past week, ETH ends up in last place in the top 10 crypto.

Solana and Ripple in the spotlight Solana is performing better: the current price is only seven percent below the all-time high. XRP had a strong week with an 84 percent rise. Yet Ripple's rally appears to be pausing for now, with a five percent daily loss.

Why the uptick? The recent boost in the crypto market comes from Donald Trump winning the election and the U.S. central bank's accommodative policy. CoinShares analyst Max Shannon explains: “The market expects further rate cuts, which is bullish for Bitcoin and other risk assets. In the medium term we also see additional investments in Trump-related trades, including Bitcoin and other cryptocurrencies. The peak could occur around the inauguration.”

The appetite for crypto remains strong for now. The Fear & Greed Index is currently at 83, indicating room for further growth.

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