CryptoETHBitcoin rally stalls, Ethereum, Solana hit 19-month highs

Bitcoin rally stalls, Ethereum, Solana hit 19-month highs

Bitcoin’s (BTC) rally stalled on Thursday, leaving the stage to cryptocurrency majors ethereum (ETH) and solana (SOL), which led the cryptocurrency rally after surging to a fresh 19-month high.

BTC fell to $43,000 on the day after a wild climb to nearly $45,000 earlier in the week, suggesting traders were taking profits after the largest cryptocurrency broke out from $38,000 a week ago. Bitcoin recently changed hands around $43,300, down 1.1% in the past 24 hours.

Meanwhile, ETH is up 5% over the same period, hitting $2,372, its highest level since May 2022.

The rise in ETH pushed up the prices of other ETH-adjacent cryptocurrencies, making them the best-performing cryptocurrencies of the day. Ethereum Classic (ETC) appreciated 6%, while liquidity staking protocol Lido’s governance token (LDO) gained more than 11%.

The native tokens of the Ethereum scaling network Optimism and Arbitrum also gained 22% and 9% respectively on the day.

Solana (SOL) rose 8% to $69, its highest level since May 2022, following a three-week cooling off from local highs in mid-November. Cryptocurrency investor and BitMex exchange founder Arthur Hayes posted on social media platform X (formerly Twitter) on Tuesday, hinting at a price target of $100 and speculating on a bullish weekend for altcoins.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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