- Solana (SOL) increased by 4.5% and showed higher volatility compared to Toncoin (TON) over the past week.
- Toncoin (TON) rose by 1.5%, exhibiting steady growth despite a minor decrease of 0.51% in the past 24 hours.
- Both Solana and Toncoin remained resilient amid a turbulent crypto market, with Solana showing more pronounced gains.
The crypto market has seen major fluctuations in the past week. Among the top 10 cryptocurrencies, only Solana (SOL) and Toncoin (TON) have remained in the green. After “Bloody Monday,” where Bitcoin (BTC) fell below $59,000, the market struggled to recover, leading to a decline in most altcoins. Despite this, SOL and TON showed resilience and upward trends.
Solana (SOL) had a relatively impressive rise of 4.5 percent in the past seven days. At the time of writing, the RSI for SOL, was 51.37, showing it was neither oversold nor overbought but rather at a neutral level. The MACD for the coin stood at –3.39, indicating a bearish sentiment on the token. Nevertheless, at the time of writing, SOL moved up 4.17 percent over the past day and was trading at $147.25.
Source: TradingView
On the other hand, Toncoin was up 1.5% over the same period, at TON’s RSI of 56.24, also creating a neutral position—neither oversold nor overbought. The MACD for TON was 0.17, showing a bullish trend. At the time of writing,TON was trading at $7.65, a slight decrease of 0.51% in the past 24 hours.
Source: TradingView
Weekly Trends and Market Movements
From June 25 to July 1, both SOL and TON showed an upward trend. SOL exhibited more pronounced gains, ending the period with approximately 20% growth. TON’s gains ranged between 5% and 8%, with more gradual and steady growth after an initial jump.
Around June 27-28, both SOL and TON experienced a sharp increase. SOL’s rise was more dramatic compared to TON. After the spike, SOL underwent a correction but maintained its upward trajectory. TON’s growth remained steady following the initial increase.
Volatility and Performance Comparison
SOL displayed higher volatility than TON, with more dramatic price swings. Despite the fluctuations, SOL outperformed TON in terms of price appreciation over the week-long period.
Source: Coinmarketcap
Final Observations
Solana and Toncoin were pumped in value, Solana still had a far more significant increase, confirmed by higher volatility. The comparison shows the varied market behavior relating to these two cryptocurrencies through a rather eventful week in the crypto market.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
