KEY POINTS
- $SOL logged 10.5% returns in the week, while $TRX came in second with nearly 4% in returns
- $BTC only returned 1.8% in the past week, while Ethereum and a few other top altcoins were negative
- $XRP was the only Top 10 crypto coin that logged year-to-date returns
Latest data has revealed that Solana (SOL) is leading the cryptocurrency pack in weeklong returns, outpacing Bitcoin and other major altcoins.
The altcoin's move comes as Bitcoin and the broader crypto market struggle to break through amid continuing fears of a potential recession as fueled by tariffs levied by President Donald Trump on various countries, including U.S. top rival, China.
$SOL rides the green wave, topples Bitcoin in returns
Data from leading crypto asset manager Grayscale showed that in the last seven days, Solana saw 10.5% in returns, as opposed to Bitcoin's 1.8% returns.
TRON (TRX) comes in second, logging nearly 4% in returns in the past week. Avalanche (AVAX) sits in the fourth spot, with returns of 1.7% in the week. Finally, XRP is in the fifth place, recording 1.6% in returns, and the Binance Coin (BNB) finished the race in the sixth spot, with 0.1% returns.
Meanwhile, Chainlink (LINK), Cardano (ADA), Dogecoin (DOGE), and Ethereum (ETH) had negative returns in the last seven days.
Despite settling in on the fifth spot in terms of weekly returns, XRP made a statement, being the only crypto coin in the Top 10 largest crypto assets by market cap to have logged returns year to date (0.2%) so far. Notably, all other coins in the list had a negative YTD log.
Why is Solana in the lead in the past week?
Various factors affect a coin's activity, but in the case of SOL, it appears the returns may have been fueled by Coinbase upgrades and the launch of Canada's first Solana exchange-traded funds (ETFs).
Solana prices hit $136 Thursday night, marking its highest price since March 28. SOL has also been up nearly 23% in the past week as opposed to lower gains made by other crypto coins, including Bitcoin.
$XRP still in the running despite doubts
Meanwhile, in the yearly logs, XRP has made a statement despite doubts around its price in recent weeks.
XRP is down in the day, but is 3.6% up in the week. Also, it is up by a staggering 316% in the year, as per CoinGecko data. In contrast, Bitcoin, the world's largest crypto asset by market value, is up over 38% in the year, buoyed by gains made earlier this year when Trump took over the White House.
XRP prices have not moved dramatically despite massive news around Ripple, the world's largest corporate holder of the XRP Ledger's native token. Still, it is making small gains that may not have been noticed due to its price movement.
