Over the past week, Ethereum advanced by nearly 9% and Bitcoin rose 5.89%, as investors boosted risk exposure amid hopes for prolonged global peace.
However, Solana (CRYPTO: SOL), a much smaller asset in terms of market capitalization, has rallied 14%.
SpaceX-Led Surge?
The outperformance could be linked to SpaceX’s blockbuster IPO, which has had a pronounced impact on financial markets.
SOL Sees Higher Long Exposure
SOL was also the frontrunner in the derivatives market. Open interest in SOL futures jumped nearly 16% over the week, compared to 8.50% for Bitcoin and 5.32% for Ethereum, data from Coinglass showed.
Additionally, traders in SOL derivatives favored bullish long positions over bearish shorts, a contrast to the trend observed in Bitcoin and Ethereum markets.
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