💥💥💥 Solana ($SOL ) Flips $BNB , Becoming 4th Biggest Cryptocurrency
Solana Surges to Fourth Spot on CoinMarketCap, Surpassing BNB
- Solana (SOL) has climbed to the fourth position on CoinMarketCap, surpassing Binance Coin (BNB). Both cryptocurrencies are currently valued at $84.8 billion, with SOL holding a slight edge.
Impressive Price Performance
- The price of SOL has surged by 8% over the past 24 hours, significantly outperforming the broader market. According to cryptocurrency analytics platform Santiment, Solana and BNB are now expected to remain in "close proximity" to each other.
Bullish Momentum for Solana
- Solana, often dubbed the leading "Ethereum killer," is experiencing bullish momentum following a 35% price jump over the past two weeks. This surge has been partly fueled by Solana's central role in the recent meme coin frenzy. Pump.fun, a meme coin generator powered by Solana's proof-of-stake blockchain, has already facilitated the launch of over a million tokens.
Institutional Interest
- The fourth-largest cryptocurrency might also see growing institutional adoption. Investment firm VanEck has filed to launch a spot Solana-based ETF, and 21Shares has made a similar proposal. However, these products are unlikely to receive approval from the SEC this year.
Broader Market Rally
- In the broader market, #bitcoin☀️ has surpassed the $68,000 level, with its market cap swelling to nearly $1.35 trillion. Other major cryptocurrencies are also experiencing gains. Dogecoin, the leading meme coin, recorded a double-digit price jump, reflecting the overall bullish sentiment in the crypto market.
Source - u.today
