This Week in Coins: Bitcoin Hits 18-Month High, Solana Market Cap Closes Against USDC

The crypto fun doesn't seem to end. Bitcoin (BTC), after freezing last Friday, continues to lock up – it It reached an 18-month high On Thursday, the spot exchange traded fund (ETF) traded on optimism around $37,000 per coin.

Bitcoin's growth — likely the U.S. Securities and Exchange Commission now has an eight-day window to approve Bitcoin ETF applications — has led the rest of the market, Bloomberg Intelligence analysts said in a note.

Over the past seven days, BTC is up nearly 8% and is trading at $37,369, according to CoinGecko.

Several large altcoins saw gains, with Solana (SOL) leading the way and continuing its seemingly unstoppable rally. It was a penny on Friday Close in The USD Coin (USDC) market cap is now comfortably above $50 per coin, and is currently trading at $54.54—a weekly increase of over 38%.

SOL has been on a rally of its own: up 150% in the last 30 days; No other major coin or token has achieved such gains. Professionals They spoke Decrypt As short sellers exit their positions, it may come down to a short squeeze. In addition, blockchain is fast and cheap – so there is a new demand from institutions.

Ethereum, the second largest cryptocurrency, also did well. He crossed $2,000 mark for the first time since July; It is currently up more than 14 percent in a week.

Elsewhere, seemingly quiet alts experienced a resurgence: Chainlink (LINK) experienced a seven-day gain of 33%—making it the next best gainer among SOL's top 20 coins and tokens. It is currently trading at $15.10 per token.

Its jump is in part to British telecoms company Vodafone's rebranding of Digital Asset Brokerage (DAB). DAB is using the Chainlink network to improve document transfer.

And Sui (SUI) has also had a quiet revival: The blockchain token launched last year by former Meta engineers has surged more than 36% in the past seven days, to $0.61.

Edited by Ryan Ozawa