#Write2earn #Solana Surges as Crypto Markets Stabilize Amid Positive Economic Signals #Altcoins #MarketAnalysis #Market_Update $SOL $BTC $ETH

Solana has surged significantly over the past week, with its tokens reaching new highs.

On Monday, the crypto market remained steady after a strong performance last week, driven by positive ETF inflows and favorable macroeconomic indicators. Solana's metrics particularly soared.

Bitcoin (BTC) is at $67,698, up 1.5%, Ether (ETH) rose 2% to $3,125, and Solana (SOL) jumped nearly 6%, according to CoinGecko. Investors remain cautious after last week's gains, influenced by macroeconomic developments, per Ryze Labs.

April's U.S. Consumer Price Index (CPI) was 0.3% month-on-month, cooler than the expected 0.4%. This slower inflation rate has eased concerns about a rate hike, allowing the Federal Reserve to consider a rate cut.

Michael Van de Poppe of MN Trading expects Bitcoin to remain within its current range with minimal volatility, anticipating slow upward movements and altcoins potentially outperforming.

CryptoQuant data shows exchange BTC reserves have dropped to 1,929,696 BTC as of May 19, a more than 50% decrease from July 2021, indicating a reduction in Bitcoin's liquid supply as investors move holdings off exchanges for long-term storage.

Solana has seen significant gains among blockchains with market capitalizations over $1 billion, driven by a meme coin craze. Over 20,000 tokens are created on Solana daily, according to Step Finance.

Markus Thielen of 10x Research believes Bitcoin could rally if it breaks the resistance level of $67,500, potentially leading to new all-time highs.

CoinGlass data shows that in the past 24 hours, 48,218 traders were liquidated, totaling $108.08 million. The largest single liquidation order was on OKX, involving an ETH-USD swap worth $2.91 million.

Michael Sonnenshein is stepping down as CEO of Grayscale Investments, succeeded by Peter Mintzberg, a former Goldman Sachs executive, effective August 15.