Solana became the fourth largest cryptocurrency by capitalization
The SOL token has grown in price tenfold since the beginning of the year and is second only to permanent leaders in terms of share in the cryptocurrency market.
The rate of the native blockchain token Solana (SOL) on the night of December 22 reached its highest since April 2022, immediately reaching $99.4 on the Binance exchange in pairs with the stablecoin Tether USD (USDT). At 10:00 Moscow time, the coin is trading at $97, according to TradingView. SOL's capitalization exceeded $41.7 billion, making the token the fourth largest crypto asset after Bitcoin (BTC), Ethereum (ETH) and USDT.
Solana's price has increased tenfold since the beginning of the year, but the token is trading below the all-time high of $250 reached in November 2021 during the peak of the crypto market.
On December 21, the SOL token overtook XRP from Ripple Labs in capitalization, and it took another day for its market valuation to rise above BNB from the Binance exchange, which for a long time occupied fourth place in the Coimnarketcap rating. The service ranks crypto assets based on the Fully Diluted Market Cap indicator - this is the total value of the asset at the current price, provided that all coins are traded on the market.
