#solana ($SOL ) Now Worth More Than MSTR, HOOD, and DBX Combined
Solana (SOL) has reached a significant milestone, surpassing the combined market capitalization of major companies like MicroStrategy, Robinhood , and Dropbox. Currently trading at $94.70, SOL has seen a 10.59% increase in the last 24 hours, securing its position as the fifth-largest cryptocurrency by market capitalization, displacing XRP.
Solana's market cap now stands at an impressive $36,953,575,216, exceeding the combined market cap of #MicroStrategy ($7.84 billion), #Robinhood ($10.91 billion), and Dropbox ($10.30 billion), totaling $29.1 billion. This remarkable feat underscores the growing importance of decentralized technologies.
The recent surge in SOL's valuation, with a 21% increase in the past week and a remarkable 250% growth since mid-October, can be attributed to the success of its memecoin, BONK. BONK's price surge, coupled with listings on major exchanges like Binance and Coinbase, has significantly contributed to Solana's market cap rise.
Solana's ecosystem is experiencing increased activity, with active addresses surging from 83.93K in mid-October to 351.5K, indicating a substantial boost in interest and participation. Technical indicators, including daily Exponential Moving Averages and a Relative Strength Index above 60%, project a positive sentiment among traders.
As Solana continues to disrupt the crypto market, its sustained performance could lead to a potential rally to $95 and $120 in the mid-term. Observers are keenly monitoring its trajectory in the coming days.