$97 Billion and Growing: Solana’s Staggering Climb Captivates Crypto Market

In the latest twist of crypto market action, solana (SOL) has waltzed past binance coin (BNB) this week, securing its place as the fourth largest digital asset by market cap.

Solana Surges Ahead

Currently, solana boasts a market cap of $97.68 billion, capturing 3.66% of the $2.67 trillion crypto economy. As of Nov. 10, SOL is enjoying a 4.8% bump, capping off a week with a 28.4% gain against the U.S. dollar. Over the past month, solana has rallied by an impressive 43.2%.

Since the beginning of the year, SOL has climbed over 105%, and in the last 12 months, it has risen approximately 300%. With SOL now ahead of BNB, binance coin has a market valuation of $91.33 billion. SOL, a layer one asset, has seen a 24-hour trading volume of $7.16 billion, ranking it as the seventh most traded crypto asset by volume this weekend.

Sunday’s top solana trading pairs include USDT, FDUSD, USD, KRW, and BTC. The U.S. dollar represents 11.02% of solana’s trading activity, while the South Korean won accounts for 5.65%. Globally, solana has around 9,154,449 holders, with the largest 10 wallets holding 6.58% of its supply. Meanwhile, the top 50 wallets control 17.52%, and the top 100 collectively hold 22.76% of SOL’s circulating supply.

Solana’s rapid climb reflects growing enthusiasm among global crypto holders, marking a shift in market dynamics that may signal increasing interest in emerging layer one platforms. With diverse trading pairs and a notable volume share across key currencies, solana’s ascent hints at a broader appetite for decentralized solutions, setting the stage for potential future market movements in the digital asset realm. #Write2Earn