Solana [SOL] has experienced some recent positive price movements, and although the increases were slight, they impacted its market capitalization.

There has been a slight dip recently, but if the momentum picks up again, it could establish a new market cap range.

Solana crossed the $80 billion market cap range

Analysis of Solana’s market cap showed it started on 5th June at around $79 billion. This increase was due to the recent uptrend in SOL’s price.

By the end of trading, the market cap had crossed the $80 billion mark. This was the first time in weeks it entered the $80 billion range, with the previous instance being in May.

Solana market cap

Source: CoinMarketCap

However, as of this writing, the market cap has dropped below the $80 billion range again, currently sitting around $79.2 billion. The decline is due to the decrease in SOL’s price over the last 24 hours.

SOL price declines

AMBCrypto’s daily analysis of Solana revealed recent consecutive uptrends. Between 3rd and 5th of June, the price increased from around $164 to approximately $173.

At the end of trading on 5th June, SOL saw an increase of a little over 1%, trading at around $173.5.

As of this writing, the price of Solana has fallen to around $172 after a decline of less than 1%. This seemingly minor drop resulted in nearly $1 billion being wiped off its market cap.

Despite the price decline, the overall trend remains positive.