The cryptocurrency market is recovering from the downturn it faced towards the end of last week, with most assets now showing positive movement. Certain altcoins are outperforming others, indicating a notable shift in ecosystem attention towards Solana over other layer-one networks at present.
Bitcoin is currently testing the $68,000 mark.
Bitcoin is regaining momentum after a downward trend toward the end of last week. Despite a 4.4% decline over the past seven days, BTC has shown strength in the last 24 hours, surging by approximately 2.8% and currently testing the crucial resistance level at $68,000.
Meanwhile, market sentiment, as gauged by the fear and greed index, continues to indicate extreme greed. However, there has been a slight shift in sentiment, with a decrease from 88 points of extreme greed on March 14th to 77 points today.
Solana emerges as the frontrunner in the altcoin surge.
As previously noted, certain altcoins are clearly outperforming others, signaling a notable trend. Solana’s ecosystem is notably leading the charge.
![](https://sollcrypto.com/wp-content/uploads/2024/03/Screen-Shot-2024-03-18-at-1.50.24-PM.png)
As indicated in the heatmap above, SOL’s price surged by over 11% in the last 24 hours, surpassing the significant $200 threshold. This surge also resulted in SOL overtaking Binance Coin (BNB) to become the world’s fourth-largest cryptocurrency by total market capitalization.
Among the top 10 cryptocurrencies, SOL stands out as the top performer, while Render (RNDR) experienced the most significant increase among the top 100, rising by approximately 15% in the past 24 hours. Conversely, Ribbon Finance (RBNB) failed to capitalize on the recent market upswing, declining by 6.4% during the same period, marking the poorest performance among the top 100.