Bitcoin Surges Since Trump 'Liberation Day'—But Solana Outperforms
Since U.S. President Donald Trump's tariffs on April 2, Bitcoin and Solana have seen significant price increases, with Solana rising 14.5% to $145 and Bitcoin increasing 7% to approximately $91,100. In contrast, Ethereum, XRP, and Dogecoin have experienced declines. The global crypto market cap has grown by 6% to $295 trillion, with Bitcoin maintaining a 60% market dominance and Solana representing 2%. Analysts suggest Solana's recent gains are due to it being oversold rather than its value as a store of value. The FTX bankruptcy estate's access to 11 million Solana has increased its circulating supply. Bitcoin's appeal as a non-sovereign asset and its institutional adoption through spot ETFs contribute to its price stability and long-term holding conviction among investors.
