Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of strength heading into the weekend. BTC has broken out of its recent consolidation phase, climbing above $109,000 and moving closer to its all-time high. Meanwhile, ETH and XRP followed BTC’s footsteps, closing above their key resistance levels, which suggests a bullish outlook and potential for continued upside in the near term. If BTC continues its upward momentum, it could extend the rally toward the May 22 all-time high at $111,980.
PENGU edges lower by over 1% at press time on Friday, following an 8.50% surge on the previous day. The utprend surpasses the 50% Fibonacci retracement level at $0.0160, retraced from the all-time high of $0.0700 to the April 9 low at $0.0037. If PENGU holds the 50% Fibonacci level, it could target the $0.0259 level, last tested on January 26.
Solana (SOL) held steady on Friday despite a lag in on-chain activity in June, with its Real Economic Value (REV), App Revenue, and Decentralized Exchange (DEX) volumes dropping 48%, 38%, and 35%, respectively. Meanwhile, DeFi Development Corporation (DFDV) resumed its Solana accumulation strategy after acquiring 17,760 SOL. App revenue also declined by $150 million in June, representing a 38% decrease from the previous month. Despite the decline, Solana apps accounted for 35% of all app revenues across blockchains, with Binance Smart Chain coming in second at 17%, noted Blockworks analysts.
