Solana, Sui plummet as SWFTCOIN, AMO Coin, and Alchemy Pay pump hard

The crypto market has today plummeted led by Solana (SOL) and Sui (SUI), which have seen double-digit price drops as other major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP also slumped.

However, while a majority of the big crypto names suffer from massive drops, smaller altcoins like SWFTCOIN (SWFTC), AMO Coin (AMO), and Alchemy Pay (ACH) have registered impressive gains, with SWFTCOIN rising by over 110% over the last 24 hours alone.

Solana (SOL) drops 12% amid possible profit-taking

Solana (SOL), currently trading at $225.74, has seen a 12.9% decrease over the last 24 hours, bringing its market cap to just over $110 billion.

This downturn follows a high of $293.31 just eight days ago. The altcoin has dropped by 22.5% from this peak.

The reasons behind this plummet could be multifaceted. One potential factor might be profit-taking following the recent surge, as investors look to secure gains after SOL’s impressive yearly increase of 148.4%.

Additionally, broader market sentiment, regulatory news, or technical issues within the Solana ecosystem might also be influencing this downward trend.

The broader market sentiment has turned bearish forcing most major coins to drop considerably.

Sui (SUI) has dropped by 14% in a day

Sui (SUI), the native token of the Layer-1 blockchain that promised to rival Solana with its focus on DeFi applications, has not fared any better.

With a current price of $3.57, SUI has dropped by 14.7% in the last day, reflecting a broader weekly loss of 23.7%. Its market cap now stands at around $10.9 billion.

This significant decline could be attributed to similar market dynamics affecting Solana, including profit-taking after a yearly surge of 154.9%.

However, despite the current bearish market sentiment, SUI remains a coin to watch as 2025 unfolds going by the upcoming updates outlined by Adeniyi the Co-founder and CPO at Mysten_Labs in a recent post shared on X.

SWFTCOIN (SWFTC) soars 116%

In stark contrast to the bearish moves of Solana and Sui, SWFTCOIN has been on an upward trajectory.

With a 24-hour increase of 116.0%, SWFTC is now trading at $0.02606, pushing its market cap to $268 million.

Notably, the coin has seen a remarkable 1470.0% rise over the last year, making it one of the best performers.

This rally is most likely fueled by positive developments within the SWFT blockchain ecosystem, such as enhancements in its cross-chain capabilities or partnerships that expand its utility.

The recent peak at $0.0324, just hours ago, suggests there’s strong buying interest, possibly driven by speculation or new utility features that have captured the market’s attention.

AMO Coin (AMO) is up 53%

AMO Coin has also been making waves with a 53.0% price hike in the last 24 hours, reaching $0.001572.

This surge comes on the heels of a contract migration, which might have instilled renewed confidence among investors, or perhaps there’s news of a new application or integration that’s driving demand.

The coin’s year-on-year growth of 221.4% underscores a strong performance narrative, potentially supported by community developments or strategic partnerships to increase AMO’s utility in the DeFi space.

Alchemy Pay (ACH) soars as it expands its crypto payment solutions

Lastly, Alchemy Pay has also seen its price climb by 25.0% in the last 24 hours, now at $0.02605.

With a market cap of around $131 million, ACH’s upward movement might be linked to its ongoing efforts in enhancing payment solutions for cryptocurrencies, possibly making strides in adoption or regulatory environments.

The moderate yearly increase of 44.4% shows steady growth amid the continued integration of Alchemy Pay on-ramp with more platforms, with the most recent being the integration of the Alchemy Pay on-ramp on Uniswap Web & Wallet.

The post Solana, Sui plummet as SWFTCOIN, AMO Coin, and Alchemy Pay pump hard appeared first on Invezz