Bitcoin, Ethereum Mostly Flat as Solana Price Sags 5%

Bitcoin and Ethereum were mostly flat on Tuesday morning while the Solana price sagged by 5% compared to yesterday.

Even while trading mostly flat, the price of Ethereum managed to very briefly inch past the $3,000 mark before falling back to $2,932.95 at the time of writing, according to CoinGecko data. It’s down 0.4% from yesterday but has gained 11% since last week.

Meanwhile, Bitcoin seems to be taking a breather after looking like it was going to reach $53,000 yesterday. At the time of writing, Bitcoin is changing hands for $51,491.97—a 0.8% drop from the same time yesterday, according to CoinGecko data.

BTC has been enjoying a lot of attention and renewed enthusiasm because of all the action on spot Bitcoin ETFs in the U.S. Net flows for the funds have already surpassed $3 billion as of last week.

All that hype has been compounded by the upcoming Bitcoin halving, which traders are expecting will launch the world’s oldest and biggest assets by market capitalization into a bull market.

Things for Solana have been more of a mixed bag.

The total value locked in DeFi projects on the network—launched in 2020 as a direct competitor for Ethereum—has topped $2 billion for the first time in a long time. But SOL, the native token of the ecosystem, has taken a beating on its price since yesterday.

At the time of writing, SOL is changing hands for $105.40—down 6.5% since yesterday and 3.2% lower than it was a week ago, according to CoinGecko data.

This year, Solana has seen a ton of activity because of several large-scale airdrops, like Jupiter, Dymension, and meme coin WEN.

Edited by Ryan Ozawa.