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Large-Cap Ethereum Competitors Cardano, Solana and Avalanche Surge As Crypto Market Ticks Upward

Large-Cap Ethereum Competitors Cardano, Solana and Avalanche Surge As Crypto Market Ticks Upward
Large-cap rivals of the smart contract platform Ethereum ( ETH ) surged on Friday as the crypto markets continued to move upward.
Cardano ( ADA ) had the strongest day in terms of large-cap, layer-1 blockchain projects, jumping by almost 20% over 24 hours.

The ninth-ranked crypto asset by market cap reached its highest price since August 2022 and is trading at $0.546 at time of writing. ADA is also up around 43% in the past seven days.
Avalanche ( AVAX ) also had a strong showing on Friday, gaining over 11% in 24 hours. The 11th-ranked crypto asset by market cap is still rising and trading at $32.10 at time of writing.
Additionally, Polkadot ( DOT ) surged by nearly 9% on Friday, and Solana ( SOL ) jumped by 6.5%. DOT traded at its highest level since April, and SOL hit 19-month highs.
Ethereum, by comparison, traded sideways on Friday. The second-ranked crypto asset by market cap is priced at $2,366 at time of writing.
The crypto analytics firm Santiment encourages traders to proceed with caution in regards to the red-hot Ethereum competitors, noting that ADA’s social discussion rate hit a six-month high, while SOL’s hit its highest level in two months. The firm says the crowd “may be a bit too euphoric” about both assets.
The overall crypto market cap jumped by 2.4% on Friday, according to CoinGecko .
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The post Large-Cap Ethereum Competitors Cardano, Solana and Avalanche Surge As Crypto Market Ticks Upward appeared first on The Daily Hodl .

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