Solana ( SOL-USD ) gapped higher by 12.5% in Tuesday late afternoon trading as other major cryptocurrencies drove up on the hope that the Federal Reserve will soon end its hawkish stance. SOL changed hands at $23.16 at 4:59 p.m. ET, approaching the highest level since its March 20 peak, as bitcoin ( BTC-USD ) surpassed $30K for the first time in 10 month s. Market participants have also jumped back into crypto against a backdrop of a weaker U.S. dollar and the recent tumult in the traditional banking sector. Take a look at the latest outlooks for the crypto market .
$285 Million in Bitcoin Shorts Wiped Out
