Solana’s 18% price surge boosts BNB.
Key Takeaways
- Solana experienced an impressive 18% price surge in 24 hours, surpassing XRP and competing closely with Binance’s BNB for the fourth-place cryptocurrency market capitalization.
- Solana’s performance last week outperformed the cryptocurrency with a value increase of over 30%.
- Despite being known as the “ETH killer,” Solana is still some distance away from posing a serious challenge to ETH’s market cap dominance.
Solana (SUN) The price has surged 18% in the last 24 hours. BNB It is fighting for the position of the fourth largest cryptocurrency by market capitalization.
This achievement came hot on its heels. Solana’s Recent Victory Against XRP In terms of market capitalization.
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Cryptocurrencies now boast impressive market capitalizations. $40.5 billionIt is surging close to BNB on Binance Chain. $40.6 billion.
At some point, It even surpassed that., but fell back to 5th place. The last time Solana ranked fourth in market capitalization was in November 2021.
At the time, when the bull market was in full swing, Solana boasted a market capitalization of $75 billion.but it is Remain in the shadow of BNBIts market capitalization is $108 billion.
Solana’s impressive rise last week was: Increased by more than 30%It is placed in a league of its own within the cryptocurrency market.
The cryptocurrency community often refers to Solana as “ETH killer.” Despite recent gains There are still significant gaps to close. to challenge Ethereum’s significant market capitalization; Currently worth $275 billion.
Solana experienced major disruption in 2022.But because of the price plummeted to less than $10. This downturn was largely due to its association with the now-defunct company. FTX Exchange and Sam Bankman-Fried.
But fast forward to this year and you can see how Solana was resurrected through rising prices. Soars to almost $100It has established itself as one of the best performing companies in the cryptocurrency market.
On December 21st, the Solana team celebrated this event with the following: “Solana Solstice” celebrationProvides an annual review of events.
This comprehensive review highlighted key milestones, including: BONK hype, Saga mobile device launch, integration with artificial intelligence, institutional partnerships established Within the Solana ecosystem.
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