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Gate Square New & Returning Creator Rewards are ongoing!
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Cryptocurrencies continued to recover from their lowest levels reached earlier this week, with Solana being the fastest to bounce back in the past few hours.
The sharp relative rise in Solana's price to its all-time high against Ether (ETH) at 0.062, up 7.5% over the past 24 hours and 13.6% over the past week. Ether also dropped to its lowest level in over three years against Bitcoin (BTC), reversing any relative gains since the U.S. Securities and Exchange Commission (SEC) indicated in May last year its intent to approve Ethereum exchange-traded funds.
On the weekly timeframe that includes market volatility over this weekend, Solana was the best performing among major cryptocurrencies, with a drop of about 11%, while Bitcoin and Ethereum dropped by 14% and 25% respectively.