A group of major altcoins have bounced stronger than bitcoin (BTC) on Wednesday, showing relative strength despite a weakening risk appetite in broader capital markets.
BNB (BNB), the native token of the BNB Chain and closely adjacent to crypto exchange giant Binance, surged 6% to a fresh all-time high of $875.
Ethereum’s ether (ETH) rebounded 7% from the overnight lows to $4,350, erasing all of Tuesday’s losses. Some observers speculated that ETH treasury firms buying the asset could have fueled the rally.
Solana’s SOL (SOL) gained 6.1%, also outpacing yesterday’s decline, while tokens of ChainLink (LINK) and AAVE (AAVE) were up 10% and 7%, respectively.
Meanwhile, the leading crypto BTC advanced a modest 1.4% from the lows, changing hands at just above $114,000. Major stock indexes, the S&P 500 and the tech-focused Nasdaq, closed 0.2% and 0.5% lower.
While it might be too early to call for any bottom with rocky next few days and weeks ahead on the macro front, the relative streng
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