The global digital assets market recorded a brief recovery on Saturday as the major cryptos turned back to print green indexes. The cumulative crypto market cap jumped around 3% in the last 24 hours to stand at $2.64 trillion. The 24 hour trading volume registered a decline of 30% to stand at $148 billion. However, Solana (SOL) turns out to be the biggest gainer among the top cryptos, leading the recovery rally.
Bitcoin to make a comeback?
The crypto market saw the biggest crypto price return to normal levels after a huge decline seen on March 15, 2024. Bitcoin (BTC) price jumped by almost 4% in the last 24 hours. This comes in when BTC saw a sharp decline from $72,300 to $66,000 on the prior day. BTC price drop led the crypto market to turn red and fear among the traders.
According to the data provided by Coinglass, more than 79K traders got liquidated over the past 24 hours. The total liquidations recorded by the trackers stood at $261 million. While the biggest single liquidation order happened on the crypto exchange OKX of BTC-USDT-SWAP valued at $10.35 million.
However, Bitcoin is trading at an average price of $69,043, at the press time. Its 24 hour trading volume is down by 38% to stand around $52 billion.
What’s going on with SOL?
Solana emerged as one of the biggest gainers of the day. SOL price jumped by more than 15% over the last 24 hours. It is trading at an average price of $193.85, at the press time. The fifth biggest crypto’s 24 hours trading volume is down by 10% to stand at $11.3 billion.
The mega surge of Solana amid the increasing selling pressure in the market comes in due to a jump in its ecosystem tokens. Top Solana ecosystem tokens’ market cap is up by more than 6% to stand at $232 billion. However, Solana’s DeFi total value locked (TVL) jumped by over 96% in the last one month. It now stands at $4 billion.
BOOK OF MEME (BOME), a Solana based meme token, recorded a surge of more than 450% in the last 24 hours. As reported the meme token was launched this week only and now it is holding a market cap of $1.2 billion.
BOME is trading at an average price of $0.022, at the press time. Its 24 hour trading volume is up by 274% to stand at $3.31 billion.
