• Bitcoin rose to an 8-day high on its 14th birthday while Ethereum tapped its own multi-week high
• Altcoins led by Solana and Lido charted notable gains, with Solana jumping 40% weekly
• BNB is trading north of $250
Bitcoin, the world’s largest cryptocurrency, marked its 14th birthday with a celebratory price pump to almost $17,000 for the first time this year. This was not the only significant development in the crypto market, as Ethereum also reached a multi-week high of its own, while Binance Coin (BNB) is trading north of $250.
Altcoins charted some impressive gains over the past week, with Solana (SOL) leading the charge. Solana had been struggling recently following several negative developments and a dump to a multi-week low of just under $8. However, the landscape started to change when the network launched a new NFT project and Ethereum co-founder Vitalik Buterin gave some positive comments. This was followed by a substantial 40% weekly jump and SOL eventually trading at a high of $12.50.
Lido (LDO) was another altcoin that saw a notable surge. The token, which is part of the Ethereum-powered staking pool, had been trading in a narrow range for the past several weeks before breaking out and hitting a new all-time high of $4.37.
In other news, BNB continues to hold its own, trading north of $250. This represents a nearly 10% increase from its price last week, and BNB is now the fourth largest crypto asset by market capitalization.
Overall, the crypto market appears to be in a bullish mood, with Bitcoin, Ethereum, and other altcoins all charting positive price swings. As the market continues to expand, new projects and developments will likely be the fuel that powers the next crypto bull run.