Solana Leads Altcoin Resurgence as Bitcoin Momentum Stalls
The cryptocurrency market appears to be entering a new phase, shifting from a Bitcoin-led rally to a broader altcoin upswing — a trend often referred to as “alt season,” analysts say.
While Bitcoin (BTC) hovered around $117,000 and Ethereum (ETH) held below $3,800 on Monday, Solana (SOL) took center stage, rallying nearly 8% to approach the $200 mark — its highest price since mid-February. From its April lows, SOL has more than doubled and is also rebounding in BTC terms, nearing a two-month high after a 50% correction from its January peak.
Broader altcoin activity remained mixed. XRP, Cardano’s ADA, and Binance Coin (BNB) notched modest gains, while BTC dipped close to 1% in the same 24-hour window.
After more than a week of consolidation in Bitcoin, traders are rotating capital into higher-beta tokens in pursuit of stronger returns, according to Bitfinex’s Monday market note. “This capital shift suggests that investors are seeking exposure to riskier assets, a typical precursor to altcoin-led bull phases,” the report noted.
Ethereum has recently dominated headlines as the leading platform for stablecoin issuance and asset tokenization, driven by rising institutional and corporate interest. But Solana — often associated with high-throughput and memecoin trading — is beginning to catch up.
David Duong, head of research at Coinbase, noted that both ETH and SOL are gaining traction as regulatory clarity in the U.S. fuels renewed institutional appetite.
“Despite a cooldown in memecoin activity, Solana continues to prove its scalability and expand into new verticals,” Duong said. “We expect both Ethereum and Solana to benefit from the deepening institutional involvement and broader crypto market strength.”
