Back in 4th place. Solana’s SOL has overtaken Binance’s BNB in terms of capitalization over the past few days. This corresponds to a rapid rise over the week, in the face of a crypto market that has been rather sluggish over the same period
Solana’s SOL jumps in price and overtakes BNB
The cryptocurrency market has cooled significantly since last week, after a boil that had taken Bitcoin (BTC) to new heights. The largest cryptocurrency had surpassed $73,700, dragging altcoins with it.
But the market is currently catching its breath. Over the last 7 days, the trend has been rather bearish… Except for some. Such is the case of Solana’s SOL, which posted +42% for the week:
SOL’s price breakthrough over the weekend
Over the past 24 hours, the SOL price has risen by +11%. As a result, SOL’s capitalization now exceeds that of BNB de Binance. Solana’s crypto thus regains 4th place in the ranking of most capitalized cryptocurrencies, with $89.2 billion.
BNB is not far behind, however, as it posted $88.7 billion this morning. In 3rd place, Tether’s USDT now weighs in at $103 billion.
Solana ecosystem continues to generate excitement
BNB and SOL are often at loggerheads in terms of capitalization. But there’s no denying that Solana is one of the big winners of 2023. Its ecosystem has flourished, with a wave of new memecoins going viral. Its phones have also been snapped up, and a new version of the “Solana phones” is currently in the works.
This week, it’s once again the breakthrough of certain memecoins that seems to have given the SOL a boost. Dogwifhat (WIF) in particular. It has been in the news in recent days with a community fundraising campaign, and its price has soared by 38% over the week.
Samoyedcoin (SAMO), meanwhile, gained 17% over the week. And if recent interest in BOOK OF MEME (BOME) is anything to go by, the trend seems to be taking hold. Solana’s ecosystem is certainly showing its dynamism at the moment
