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Solana led major cryptocurrencies, especially those in the top 10 by market valuation, with an 11% bounce as the crypto market rebounded ahead of traditional futures opening on Sunday.
Crypto prices rebounded sharply on Sunday, as traders bought the dip following Saturday's crash, which saw over $500 million in liquidations. The market added $32 billion in market value by Sunday morning, after shedding about $128 billion the previous day, according to data from CoinGecko.
Solana led the recovery among majors, rising 11% to an intraday high of $88.89. At the time of writing, Solana was up 9.22% in the last 24 hours to $85.30 and down 0.41% weekly.
Despite the rebound in the markets, weekly performance across most digital assets remains mixed, with thin liquidity and upcoming moves in the equities market likely to determine whether this bounce continues.
The market saw a sell-off toward the weekend as investors reacted to global headlines and hotter-than-expected U.S. producer price data.
The recent rebound looks convincing on a 24-hour chart but might be fragile. Saturday's market drop coincided with thin weekend liquidity, and the same with Sunday's rebound.
Some observers believe Sunday’s mild bounce is a sign that crypto markets are looking past global headlines and traders are positioning for an extended recovery in prices.
Cryptocurrency traders, however, remain on the lookout for a bottom as a recovery in prices on Sunday remains limited.
Solana news
Solana reversed a two-day drop, rising from a low of $77.13 on Feb. 28. The rise reached an intraday high of $88.89 on Friday, with the next focus now on $105, which coincides with the daily MA 50.
According to Alicharts, Solana appears to be forming a flag pattern, but it must stay above $76.
The past week was significant for Solana with the launch of payments.org, a key milestone for Solana as stablecoin payments move into the mainstream. SoFi announced support for Solana deposits, becoming the first U.S. chartered bank to do so. Tethergold (XAUT) volume on Solana rose to a new seven-day ATH of $78 million.
Standard Chartered analyst Geoffrey Kendrick recently stated that stablecoin micropayments could drive a longer-term surge as Solana moves beyond meme coins, but trimmed his 2026 SOL forecast to $250 from $310.