The new week has started positively for crypto investors – Monday morning saw green numbers across the board, with altcoins leading the charge. While Bitcoin remains largely flat, smaller cryptocurrencies like Dogecoin, Solana, and Ethereum are posting solid gains.
🐶 Dogecoin Leads the Pack – Thanks to Musk’s Political Ambitions?
Dogecoin was the top-performing asset among the ten largest cryptocurrencies by market cap at the time of writing, having gained 3.4% in the past 24 hours.
This rally may be linked to Elon Musk’s surprise weekend announcement of a new political party called the "American Party", intended as an alternative to Democrats and Republicans.
In a late-night tweet, Musk also mentioned that his new platform will accept Bitcoin, stating that "fiat is hopeless" – although he didn’t mention Dogecoin directly, many traders believe a reference may be coming soon.
🔁 Musk and Dogecoin: A Longstanding Crypto Relationship
Elon Musk’s relationship with crypto is long and complex, and Dogecoin has long been his favorite. He’s repeatedly influenced its price with single tweets and even proposed the creation of a “Department of Government Efficiency”, abbreviated as DOGE – a clear nod to the meme coin.
Dogecoin’s current price action may reflect trader optimism that Musk will again spotlight the coin, either through his party or on social media.
🚀 Solana Surges After Staking ETF Launch
Not far behind is Solana, which spiked 3.1% after the launch of a staking-focused ETF in the United States.
The ETF, launched by REX Shares and Osprey Funds, reportedly saw $12 million in inflows on day one, according to a spokesperson. Bloomberg analyst Eric Balchunas called the debut a “healthy start to trading,” placing it in the top 1% of new ETFs by performance.
However, the U.S. Securities and Exchange Commission (SEC) has not yet decided on approving spot ETFs for SOL and other altcoins. If approved, such funds could attract billions in institutional investments.
💎 Ethereum Gains While Bitcoin Stagnates
Ethereum also climbed, gaining 1.9%, further strengthening its position as the second-largest cryptocurrency. Altcoins are currently outperforming Bitcoin, which has increased just 0.5% over the past 24 hours and remains directionless.
🧠 Summary
🔹 Dogecoin rises amid speculation around Musk’s new political party
🔹 Solana benefits from a successful staking ETF launch
🔹 Ethereum continues climbing while Bitcoin remains flat
🔹 Altcoins are clearly outperforming the largest cryptocurrency by market cap
#Dogecoin , #solana , #BTC , #Ethereum , #crypto
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