April 14, 2024
Solana Surges, Flips Binance's BNB
Latest Cryptocurrency News

Solana Surges, Flips Binance’s BNB

A day after surpassing XRP, SOL surpasses BNB in market cap with an 18% surge in 24 hours. Solana’s robust 18% price increase propels it to the fourth spot in market capitalization, reaching $41.9 billion, surpassing Binance Chain’s BNB at $41.8 billion. SOL is currently priced at $98.40, marking an 18% daily increase.

Solana had recently overtaken XRP in market capitalization on December 21. SOL has gained over 30% in the past week, outperforming other major cryptocurrencies. Despite being dubbed an “ETH killer,” Solana still trails behind Ethereum’s market cap of $269 billion.

The last time Solana held the fourth position was in November 2021, with a market cap of $75 billion during the peak of the bull market cycle, trailing behind BNB at $108 billion. Solana closed out 2022 at just below $10, attributed to its association with the defunct FTX exchange and former crypto billionaire Sam Bankman-Fried. In a year, SOL surged to nearly $100, becoming one of the best-performing crypto assets.

Google Trends indicates a significant increase in searches for Solana, approaching Ethereum’s search volume in the United States. However, technical analysts caution about a potential major crash before the year ends.

On December 21, the Solana team reflected on the year during its “Solana Solstice” celebration and annual review, highlighting events such as the Bonk (BONK) hype, Saga mobile device launch, artificial intelligence integration, and institutional partnerships.

Image By vecstock

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