The altcoin market has witnessed significant turbulence at the beginning of the week on Monday, with notable crypto assets facing pullbacks. As the new market statistics point out, the key altcoins like Solana ($SOL), Ethereum ($ETH), and $BNB have recorded significant losses after reaching closer to their all-time high spots.
This sudden downturn has raised substantial concerns among the investors. However, the respective decline seems provisional, and the long-term market outlook remains intact amid the speculation of a broad-ranging altcoin season.
Ethereum ($ETH) and Solana ($SOL) Record Considerable Downturn after Massive Altcoin Rally
Particularly, Ethereum ($ETH) began this week with a staggering $1.59B in terms of investments from institutions. However, subsequently, it has gone through a noteworthy dip in terms of price. Thus, its current price is $3,793.47, signifying a 2.01% drop over the past 24 hours. Additionally, its market capitalization has also seen a 2.27% decrease to reach $457.19B.
Similarly, Solana ($SOL) has remained effective in getting a stunning $311M in terms of inflows over the past seven days. Nevertheless, its latest price movement presents a huge retracement. Therefore, it is now changing hands at $184.58, underscoring a 4.51% decline over 24 hours. In the same vein, its market cap has also been hit by a 4.77% drop to reach $98.86B
$BNB Plunges after Setting Latest ATH
Simultaneously, $BNB has also shown a remarkable weekly performance with a 9.27% upsurge, amid which it even set a new ATH of 459.56. Nonetheless, in the case of the past twenty-four hours, it has experienced a 1.50% decrease. This dip has pushed its price down to $830.75. Apart from that, the market capitalization of $BNB displays a 1.28% slump, reaching $115.69B.
Keeping this in view, the wider altcoin ecosystem has taken a huge blow when it comes to such selective key assets. Even then, the overall standing of this market remains bullish. Along with that, the investors are also anticipating a resurgence in the respective tokens in the near term. In this respect, the next days will play a critical role in determining the continuation of the much-advocated altcoin season.
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