Solana Cools Off After Last Week's Rally, While Other Altcoins Gain

According to Decrypt, Solana (SOL), the seventh-largest cryptocurrency by market cap, has experienced a decline in the past 24 hours, with its price dropping nearly 5% to $55.39. Last week, Solana had seen a significant price surge, surpassing $50 for the first time since May 2022. The increase was likely due to a short squeeze and renewed interest from institutions. Despite the recent cool-off, Solana is still up nearly 40% over the last seven days. Meanwhile, Bitcoin is down 1% today, trading at $36,839, while Ethereum is up nearly 2%, trading at $2,096. Ethereum's recent boost past $2,000 was driven by the news that BlackRock had filed an application to list an iShares Ethereum Trust. Other altcoins, such as Filecoin (FIL), Polygon (MATIC), and Cosmos (ATOM), have also experienced gains in the past 24 hours, with FIL up nearly 10%, MATIC up more than 6%, and ATOM up over 9%.