Some altcoins in the cryptocurrency market are seeing huge gains amid the jumpy price trends.
Among the first winners for 2025 are Solana (SOL), Cardano (ADA) and Sui Network (SUI). These assets roiled the market as some made more than 20% gains in price action.
Salt flats near all-time highs
Solana’s bullish performance saw the coin take a big jump below the $200 level.
In a surprise move, SOL jumped from around $178 in less than two weeks to pick the current rally.
The coin’s rally now implies that SOL is less than 20% away from its all-time high (ATH) of $263. Solana reached this price in November 2024.
The price of SOL is up slightly by 1.41% as of writing to $214.01. However, its uptrend is now threatened by massive volatility.
– Advertisement –
Its trading volume also fell from $3.73 billion in earlier trade to $3.04 billion. Despite these hiccups, the coin continues to rise, with investors expecting further gains.
Solana’s recent rise proved to be enough to climb the rankings.
Binance Coin (BNB), which previously held the 5th place in the cryptocurrency ranking by market capitalization, gave way to Solana.
BNB, with a market capitalization of $102.15 billion, lost ground to SOL at $103.34 billion due to the latter’s price rise.
With speculation surrounding possible regulatory approval for the Solana ETF spot this year, analysts believe the uptrend could remain.
Interestingly, as many as five asset managers have filed for ETFs with the Securities and Exchange Commission (SEC). They include VanEck, Bitwise, 21Shares, Grayscale and Canary Capital.
Cardano breaks the $1 resistance
Another altcoin that recorded an upward trend in price is Cardano (ADA). The coin retested the $1 price level and broke through resistance thanks to continued investor interest.
Market watchers noted that ADA, if it maintains its momentum, could fall to $1.20 this month, given the average growth metric in January.
The price of ADA was trading at $1.06, up 1.75% in the 24 hours since this writing.
The current price indicates the asset’s lowest point in the 24-hour trading figures. ADA previously hit a high of $1.12 before experiencing market fluctuations.
While the community looks forward to the innovations hinted at by Cardano founder Charles Hoskinson, market participants are looking forward to further growth.
Other developments that Hoskinson also urged the community to anticipate in 2025 include upgrades to dApps, Bitcoin DeFi, and the Midnight Network.
Sui reached a new all-time record
Layer-1 blockchain, Sui Network, also saw its native token break previous records and set a new ATH of $5.30. Currently, the price of SUI is down to $5.23 with an increase of 10% in 24 hours.
SUI’s trading volume witnessed a whopping 180% increase to $2.3 billion, prompting many to predict that the token could rise even higher.
Analysts predict that SUI will target the $10 price in the current altcoin rally if it maintains its momentum.
Namely, the demand for SUI indicates great confidence among market participants who think the coin could reach higher levels.
Community support and market sentiment fueled this rally, as some users compared SUI to SOL.
Sui blockchain has significantly improved its transaction speed by introducing a significant innovation.
For example, the Mysticeti Consensus engine and the Narwhal-Bullshark-Tusk engine have increased speed and reduced latency.
Innovations like these fueled debate between SUI and SOL users, prompting the completion and adoption of the Sui network.
