With ETH, XRP, and BTC Pausing, Solana Emerges as the New Altcoin Front-runner

Solana Outperforms as Crypto Market Enters Altcoin-Led Phase

The crypto market is showing signs of rotation, moving from a Bitcoin-dominated cycle into an altcoin-led rally—often dubbed “alt season,” according to analysts.

With Bitcoin (BTC) trading sideways near $117,000 and Ethereum (ETH) consolidating below $3,800, Solana (SOL) took the spotlight on Monday. SOL jumped nearly 8% over 24 hours to just under $200—its highest level since mid-February. The token has more than doubled from its April lows and is now approaching a two-month high against BTC after falling sharply earlier in the year.

Other large-cap altcoins, including XRP, Cardano (ADA), and Binance Coin (BNB), saw modest gains. Meanwhile, Bitcoin declined slightly, slipping nearly 1% during the same period.

The uptick in altcoin performance comes after a week of range-bound trading in Bitcoin, suggesting a shift in market positioning. According to a Monday report from Bitfinex, “Investors appear to be reallocating capital from Bitcoin into higher-beta assets, aiming to capture further upside.” Historically, such a shift has marked the early stages of altcoin-dominated market cycles.

While Ethereum remains the central network for stablecoin issuance and asset tokenization—key themes attracting institutional attention—Solana is beginning to catch up. Known for its high-speed infrastructure and role in memecoin trading, Solana had initially lagged but is regaining momentum.

Coinbase analysts, led by David Duong, highlighted that both Ethereum and Solana are well-positioned as institutional interest in digital assets broadens, particularly in the U.S. where regulatory clarity is gradually improving.

“Solana continues to demonstrate strength in handling large transaction volumes and is expanding into new sectors,” Duong wrote. “We believe both ETH and SOL are supported by strong fundamentals and growing institutional adoption.”