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Solana Nears $100, Surpasses BNB in Market Cap

Solana is on the verge of reaching the $100 mark, experiencing a remarkable 45% surge since Monday. It has overtaken Binance’s BNB in market capitalization.

Key Takeaways

  • Solana (SOL) has surged by over 45% since Monday, approaching the $100 milestone and surpassing BNB in market cap rankings.
  • Despite the adverse impact of FTX’s collapse in 2022, Solana has made a strong recovery in 2023, almost reclaiming the $100 milestone.
  • Solana and BNB are engaged in a tight competition for the 4th spot in market cap rankings, with Solana briefly overtaking BNB earlier.
  • The current market capitalization for BNB is $41.75 billion, while Solana stands at $41.44 billion, reflecting a close contest between the two cryptocurrencies.

Solana’s Surge Towards $100

Solana (SOL) has demonstrated an impressive rally, surging by more than 45% since Monday and edging closer to the highly anticipated $100 mark.

In a significant market development, Solana has surpassed Binance’s BNB in terms of market capitalization, momentarily securing the coveted 4th position among cryptocurrencies.

Solana vs. BNB

Solana and BNB are currently locked in a tight race for supremacy in market cap rankings. Earlier today, Solana briefly overtook BNB, reflecting the intense competition between the two cryptocurrencies. However, sustaining this lead poses a challenge, especially as the price of Solana reached $99.50 on Binance, falling just $0.5 short of the $100 milestone.

The Current Market Cap Landscape

As of the latest data, BNB’s market capitalization stands at $41.75 billion, while Solana closely trails at $41.44 billion. This narrow margin indicates a closely contested battle for the 4th position among cryptocurrencies. The potential for Solana to secure a firm position in this ranking hinges on its ability to sustain a price above $100.

To Conclude

Solana’s recent remarkable price surge towards $100, coupled with its momentary overtaking of BNB in market cap rankings, signifies a significant development in the cryptocurrency landscape.

The cryptocurrency’s resilience in the face of challenges and its competitive position in the market cap hierarchy position it as a noteworthy player.