Dogecoin, Solana, Ethereum Drive Crypto Markets Higher as Bitcoin Stays Flat
Crypto markets opened the week positively, with altcoins leading gains. Dogecoin rose 3.4%, attributed to Elon Musk's announcement of a new political party, "The America Party," which will support Bitcoin. Musk's historical support for Dogecoin adds to speculation about its role in his political platform. Other notable altcoin performances included Solana and Ethereum, increasing by 3.1% and 1.9%, respectively. A new exchange-traded fund (ETF) for Solana launched in the U.S., generating $12 million in inflows on its first day, marking it as a strong debut. Despite this, the SEC has yet to approve ETFs tracking the spot prices of SOL and other altcoins, which could attract significant institutional investment. Bitcoin's performance was relatively flat, with only a 0.5% increase in the same timeframe.
