#Solana ( $SOL ) has recently become the fourth largest cryptocurrency by market capitalization, surpassing BNB. The market value of SOL is currently about $88.28 billion, which is higher than BNB's $85.6 billion. Over the past month, the price of Solana has increased by 30% and reached $187, while BNB has risen only 3.6% to $594.
The decentralized finance sector is also actively developing on the Solana platform: according to DeFiLlama, there is currently about $6.6 billion locked in Solana projects, while on the #BNB Chain there is $4.6 billion. Additionally, Solana has 5.15 million active addresses, significantly higher compared to 871,000 on BNB Chain.
The rise in SOL's price has also been supported by Donald Trump's victory in the U.S. presidential elections, as he openly supports cryptocurrencies. His promise to fire SEC Chairman Gary Gensler could further contribute to market development. This also increases the chances of launching the first Solana exchange-traded fund (ETF) in the U.S., which Canary Capital Group has already taken steps towards.
It is worth noting that Solana and $BNB have different mechanisms of backing. BNB has a mechanism for constant token burning, which reduces the total supply, while Solana operates as an inflationary token, increasing the supply at a fixed rate. The total number of SOL currently stands at 587 million.
