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Over the past week, Ethereum advanced by nearly 9% and Bitcoin rose 5.89% as investors increased risk exposure amid hopes for prolonged global peace. Solana, however, rallied 14%, outperforming both major cryptocurrencies.
The stronger performance in Solana comes as broader crypto gains were driven by improving sentiment. While Ethereum and Bitcoin posted solid weekly increases, SOL’s 14% rise stood out as the largest move among the three.
The outperformance could be linked to SpaceX’s blockbuster IPO, which has reportedly had a pronounced impact on financial markets.
Solana also led in the derivatives market. Open interest in SOL futures jumped nearly 16% over the week, compared with 8.50% for Bitcoin and 5.32% for Ethereum, according to Coinglass data.
In addition, traders in SOL derivatives favored bullish long positions over bearish shorts. This contrasted with the trend observed in Bitcoin and Ethereum markets.
The combination of SOL’s stronger spot performance and rising derivatives open interest indicates increased participation and positioning in Solana relative to Bitcoin and Ethereum over the same period.
