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.
NEWS: @solana $SOL Skyrockets: Overtakes Binance Coin $BNB as the Fourth-Largest #Crypto | #SOL #SolanaCommunity https://t.co/dfHAd1gDru
— Fintechs.fi (@fintechsfi) December 22, 2023
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.
