Solana, Avalanche Soar as Ethereum price surpasses $3,500.

Bitcoin and Ethereum are on a roll today—with rumors mounting that the latter's ETH-based exchange-traded fund (ETF) may soon hit the U.S. market.

Bitcoin's price has touched $70,000, sparking a flood of liquidity, while ETH is trading above $3,500 in writing. But the top two coins by market value aren't the only ones seeing big gains. Solana and Avalanche are the biggest winners and the entire crypto market is over.

Solana, the fifth largest coin by market cap, has gained more than 8% in the past day and is now trading at $184.17, according to CoinGecko.

Although the coin isn't as close to breaking records as Bitcoin—it still needs to increase in value by 29% to reach an all-time high of $259 in 2021.

Elsewhere, Avalanche is riding high: Of the top 20 coins and tokens, it's performing the best, shooting up nearly 9% in 24 hours. It is currently priced at $38.24.

The coin, which runs on a network used by developers to build decentralized applications, is the 12th largest digital asset by market capitalization and made headlines last year when JP Morgan announced its use of the blockchain to simulate investment portfolios.

Rounding out the list of top cryptocurrencies by market cap, price hikers Uniswap (UNI), Pepe, and Lido Dao (LDO) saw 24-hour gains of over 18%, 20%, and 21%, respectively.

Ethereum, the second largest cryptocurrency, increased by 14% in the last day, the price reached 3,511 dollars. The asset rose on news that the Securities and Exchange Commission, Wall Street's biggest regulator, may be close to approving an ETH ETF.

Such an investment vehicle allows people to gain exposure to the second largest digital currency by market value through shares traded on a traditional stock exchange.

The SEC approved 11 spot Bitcoin ETFs in January, but it was important in the case of approving an ETH counterpart.

Long-time major Wall Street firms including BlackRock, Grayscale, and VanEck have filed paperwork to launch a spot ETH ETF. Until recent rumours, the prospect of approval seemed dim.

Edited by Ryan Ozawa.