Bitcoin, Ethereum, Solana and other altcoins recover after weekend dip

Bitcoin, Ethereum and Solana recovered after a dip over the weekend, while Metaverse tokens such as The Sandbox showed a spectacular comeback.

On Monday morning, Bitcoin once again listed above the 98,000 euro mark. In doing so, the major cryptocurrency is recovering from a small decline this weekend, where the price fell below 96,000 euros. According to data from Coinglass this led to liquidations of long positions worth about 500 million euros.

One explanation for the recovery may lie in recent statements by MicroStrategy CEO Michael Saylor, who hinted at further Bitcoin purchases. His company recently raised 2.6 billion to purchase more BTC, which may have restored investor confidence.

In the altcoin market, we see mixed signals. Ether (ETH), Solana (SOL) and Cardano (ADA) remained almost stable on a 24-hour basis, but seem to have found their way back up. In contrast, Tezos (XTZ), Cronos (CRO) and Cosmos Hub (ATOM) posted slight losses. On a weekly basis, however, these tokens are still in double-digits plus.

Metaverse tokens are the big winners. The Sandbox (SAND) stands out with a price increase of 141 percent on a weekly basis, while Decentraland (MANA) follows with a 70 percent increase. Despite these impressive results, both tokens are still about 90 percent below their historical peak values.