Solana

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In the past 24 hours, the cryptocurrency market witnessed a roller-coaster-like movement, impacting both bearish and bullish traders. According to&nbsp;<a href="https://www.coinglass.com/LiquidationData?fbclid=IwAR3Kzfm_kp-H6k6qrtM7s-L7MdFTg3g8lKA3uhob0V5DvIJvc71E4VodU1A" rel="noopener noreferrer nofollow">CoinGlass</a> data, a total of $122.83 million in liquidated positions shook the market, with 66% being long positions and the remaining 34% representing shorts.
Amid this market turbulence,&nbsp;<a href="https://u.today/crypto-market-enters-extreme-greed-as-new-solana-meme-coin-wif-records-40-million-trading-volume" rel="noopener noreferrer nofollow">Solana (SOL)</a> stood out by initiating a significant bearish liquidation mission. In the last 12 hours alone, SOL witnessed liquidations totaling $1.94 million, with a remarkable 87.1% originating from short positions.&nbsp;While bulls also faced losses, the damage amounted to a mere quarter of a million, delivering a sharp wake-up call to latecomers. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="20fc9302-e9fb-4ac2-8cdb-b14733fd3101" src="https://u.today/sites/default/files/inline-images/sol_67.png">Source: <a href="https://www.coinglass.com/LiquidationData?fbclid=IwAR3Kzfm_kp-H6k6qrtM7s-L7MdFTg3g8lKA3uhob0V5DvIJvc71E4VodU1A" rel="noopener noreferrer nofollow">CoinGlass</a>
Currently, SOL is trading at $77.77 per token, marking a 6.45% increase from the day's opening price. Despite a substantial 267% surge since October,&nbsp;<a href="https://u.today/messari-top-crypto-analysts-name-four-tokens-they-are-bullish-on-rndr-solana-and-more" rel="noopener noreferrer nofollow">Solana</a> continues to show resilience on the market.
<h2 dir="ltr" id="solana-dethrones-xrp">Solana dethrones XRP</h2>
In another noteworthy development, Solana has now claimed the coveted fifth spot among all crypto assets, as per&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>, displacing&nbsp;<a href="https://u.today/xrp-adoption-central-bank-of-ireland-officially-approves-ripple" rel="noopener noreferrer nofollow">XRP</a>, a veteran player on the market.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="aba0fdc2-7798-4a47-af5f-94580dc4339c" src="https://u.today/sites/default/files/inline-images/SOL_1Y_graph_coinmarketcap_1.jpeg">SOL Market Cap by <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
With a current market capitalization of $33.24 billion, SOL's ascent is nothing short of meteoric. Reflecting on the early 2023 FUD-induced anxiety when its market cap languished at $3.63 billion, Solana has defied expectations, boasting extraordinary growth of 915.7%.
Solana's climb up the crypto ladder this year not only symbolizes its own resilience but also reflects a broader shift in market dynamics. As it solidifies its position among the top crypto assets, Solana's impact during the current rally is undeniable.

SOL Price Skyrockets: Bears Liquidated Massively as Solana Dethrones XRP

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