Bitcoin Dips as ETF Hype Fades—XRP, Solana, and Toncoin Surge

Bitcoin is down today but other top digital assets are up overnight.

The biggest cryptocurrency in the market capitalization increased by 1.5% in the last day, when it was traded at $ 34,254 per coin, CoinGecko data shows.

Trading at $27,189, Bitcoin is still on a high since the beginning of the month. The hype around Bitcoin exchange-traded funds (ETFs) has hit Wall Street, fueling interest in the asset, with institutions pouring money into the space.

In fact, asset manager CoinShares reported yesterday that digital asset investment products saw $326 million inflows last week — the biggest one-week inflow since July 2022.

But this week, it's still the alt coins that are on the roll.

XRP traded at $0.60 – a nearly 7% 24-hour increase, making it one of the top performing altcoins.

The fifth-largest digital asset by market capitalization is still below the $0.82 high it touched in July after a federal judge partially sided with Ripple Labs against the Securities and Exchange Commission.

Toncoin (TON) also shot up in the last 24 hours, jumping over 5% when it entered at $2.23. The open network's native crypto, Ton messaging app Telegram has made huge gains after launching a self-protecting digital wallet for its users.

And Solana (SOL), the eighth largest digital asset by market capitalization, continues to climb. It is currently priced at $36.30, a 24-hour gain of nearly 5%.

While meme coins like Pepe seem to be making a comeback, the biggest dog coins – Shiba Inu (SHIB) and Dogecoin (DOGE) – are down more than 2% each.

SHIB's developers launched the new identity protocol in August, but it got off to a rocky start, and the asset has been in slow decline ever since.

Edited by Stacy Elliott.