Ethereum, and solana (sol) have all experienced significant gains over the past 24 hours. bitcoin has peaked as high as $22,687, rising almost 8% over the past day and 20% over the past seven days. ethereum has climbed almost 7% today to $1,656, with 17% gains over the past week and 36% over the past 30 days. meanwhile, solana has surged 18% today to a current price above $25 and has more than doubled in price over the last 30 days, making it the 10th-largest coin by market cap.
Gains occurred today, december 17, 2020. the price of bitcoin has not been this high since august 18, 2022, while ethereum last traded this high in september 2022. the cryptocurrency market as a whole has seen a 6% boost in value over the past 24 hours, and solana’s price is the highest since the market declined amid november’s ftx uncertainty.
Gains are likely due to increased institutional investment in the cryptocurrency market, as well as a surge in retail investor interest in recent months. bitcoin has become increasingly attractive to investors looking to hedge against inflation, while ethereum has benefited from the growth of decentralized finance (defi) protocols. solana has been boosted by the launch of serum, a decentralized derivatives exchange running on the solana blockchain.