Bitcoin and other major cryptocurrencies saw substantial gains in early Monday trading, with Bitcoin rising 3.71% to approximately $87,480. Ethereum also surged, climbing 4.05% to $2,093.
The total cryptocurrency market capitalization grew by 2.94% over the past 24 hours, reaching $2.84 trillion. Despite concerns over upcoming U.S. tariffs and key economic data set for release later in the week, the market maintained strong upward momentum, reflecting robust investor confidence in the crypto sector.
XRP, Cardano, and Dogecoin were among the top performers, gaining 3%, 2%, and 3.8%, respectively. Chainlink, Avalanche, Hedera, and Stellar also saw growth, with increases ranging from 3% to 10%.
“Bitcoin is holding above $86,000, posting a 3% gain today. The key resistance level to watch is $86,700; a breakout could open the path to $90,000,” said Vikram Subburaj, CEO of Giottus.
Bitcoin’s market capitalization surged to $1.727 trillion, with its dominance rising to 60.73%. Its 24-hour trading volume spiked by 93% to $18.2 billion. Meanwhile, stablecoin transactions accounted for 94.74% of total crypto trading, reaching $57.58 billion, according to CoinMarketCap.
Solana stood out as a top performer, surging over 7% in the past 24 hours to trade above $139. The rally was driven by reports suggesting that President Trump’s April 2 tariffs may be more targeted than initially feared, easing market concerns.
Solana’s momentum aligns with increasing adoption. According to DeFiLlama, its total value locked (TVL) has reached 54.87 million SOL, the highest level since June 2022. Ali Charts reported a record 11.09 million addresses now hold SOL, highlighting growing investor interest.
Additionally, more than $72 million in assets have recently been bridged from Ethereum to Solana. Solana’s weekly active addresses (17 million) far exceed Ethereum’s (1.8 million), while Binance’s rising SOL wallet balances suggest renewed accumulation after a period of selling.
Institutional interest in Solana continues to rise, with Volatility Shares launching two Solana futures ETFs—SOLZ and SOLT—on Nasdaq on March 21. Major asset managers, including Franklin Templeton and VanEck, have also filed applications for spot Solana ETFs, reflecting growing confidence in the cryptocurrency.
Meanwhile, BitMEX co-founder Arthur Hayes remains optimistic about Bitcoin’s outlook. “The Fed’s policy orientation could help Bitcoin reach $110K before it retests $76.5K,” he stated.
