YEREVAN (CoinChapter.com) – On Dec. 18-19, the Bitcoin (BTC) price jumped over 5%, albeit flashing worrying signs, such as whale passivity, uptick of BTC supply on exchanges, etc. However, as long as the leading cryptocurrency trended up, so did the leading altcoins, including Solana (SOL), Avalanche (AVAX), and Cardano (ADA).
Solana (SOL) emerged as one of the largest daily winners on Dec 19, jumping 10% to $74.8. In detail, the altcoin retested a former resistance at $75, which capped the token’s bullish attempts since early December.
Despite the lowering trading volumes, Solana, among other top altcoins, has attracted considerable interest in the previous week, including an influx of funds from institutional investors. According to the latest report by CoinShares, Solana flipped Bitcoin and Ethereum together with $10 million in inflows against leading coins’ cumulative $37 million outflows.
Thus, a bullish continuation for Solana in the coming week appears likely.
Cardano (ADA) jumped 5% to $0.60 in the New York session on Dec 19. Moreover, ADA is another top 3 altcoin to watch out for in the coming weeks, as the token flipped its ‘bad luck’ and attracted $3 million of inflows in the week ending Dec 17.
As the chart above demonstrates, the latest influx brought overall year-to-date flow to a positive $12 million, far from Ethereum’s $15 million. While the DeFi market faces regulatory challenges, Cardano might grant its investors more returns in the coming sessions than the other top 3 altcoins, based on the stable high network activity in the previous month.
Moreover, Cardano whales continued to fill their ranks. Wallets containing over $1 million and $10 million in ADA have increased since early October.
Avalanche (AVAX) stood out as one of the top 3 altcoins to watch in the current quarter, jumping over 330% since Oct 1. The altcoin experienced a setback after peaking at $45 on Dec 16 and corrected to $41 on Dec 19.
In the previous Avalanche review, CoinChapter noted that the blockchain is preparing for both an airdrop event and a coin unlock in the coming days, which could have influenced the price volatility. However, the top altcoin is likely to follow Bitcoin’s lead in the coming sessions.
Thus, potential AVAX investors should keep an eye on BTC charts, the overall climate of the markets, and the fellow top 3 altcoins for reference.
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