Solana

Jupiter

April

Shiba Inu

Solana claimed the fifth spot among crypto’s top 10 tokens by market cap following an airdrop frenzy, memecoin mania, and smartphone saga.&nbsp; 
Layer 1 blockchain Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) became a top five cryptocurrency after flipping Ripple’s <a href="https://crypto.news/price/xrp/" target="_blank" rel="noreferrer noopener">XRP</a> token in terms of market capitalization. On Dec. 20, the price of SOL gained over 8% and exceeded $80, a new high in 2023. Its market cap also stood above $34 billion for the first time since April 2022.&nbsp; 
Only Binance’s BNB, Tether’s USDT, Ethereum, and Bitcoin boasted larger market caps at press time. 
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 <img loading="lazy" decoding="async" width="1024" height="642" src="https://crypto.news/app/uploads/2023/12/Screenshot-117-1024x642.png" alt="Solana flips XRP" class="wp-image-14229917">
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 Solana flips XRP | Source: <a href="https://www.coingecko.com/" target="_blank" rel="noreferrer noopener">Coingecko</a>
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 You might also like: <a href="https://crypto.news/missed-bonk-here-are-other-mid-cap-tokens-on-solana/"> Missed BONK? Here are other mid-cap tokens on Solana </a> 
<h2 class="wp-block-heading" id="solana-surges">Solana surges</h2> 
Solana has enjoyed increased on-chain activity in recent months, rallying in token price along with the broader crypto ecosystem and even outclassing larger blockchains like Ethereum in decentralized exchange (DEX) trading volume.&nbsp; 
In 24 hours, Solana DEX volume crossed $1.26 billion compared to Ethereum’s $1.17 billion, according to <a href="https://defillama.com/dexs/chains" target="_blank" rel="noreferrer noopener">DefiLlama</a>.&nbsp; 
SOL’s blockchain garnered attention due to airdrops like <a href="https://crypto.news/jitos-165m-airdrop-rains-on-solana/" target="_blank" rel="noreferrer noopener">Jito</a>, which rewarded some users with five-figure sums and memecoin mania led by the likes of Bonk (<a href="https://crypto.news/price/bonk/" target="_blank" rel="noreferrer noopener">BONK</a>), a canine-themed crypto that rose to the third largest meme token behind Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" target="_blank" rel="noreferrer noopener">SHIB</a>) and Dogecoin (<a href="https://crypto.news/price/dogecoin/" target="_blank" rel="noreferrer noopener">DOGE</a>). 
Solana is also making headlines thanks to its Saga mobile phone, although one tech critic called it “the worst <a href="https://crypto.news/solana-saga-called-by-tech-industry-critic-as-worst-smartphone-of-2023/" target="_blank" rel="noreferrer noopener">smartphone</a> of 2023”. Despite the scathing review, Saga’s market price soared as high as $5,000 per unit at a point, a massive increase from its original $600 price tag.&nbsp; 
The device commanded a hefty sum after users discovered free BONK tokens airdropped to owners, with more airdrops seemingly lined up for the widely expected 2024 bull market cycle.&nbsp;SOL participants are reportedly looking toward Jupiter’s airdrop, confirmed for January. 
 Read more: <a href="https://crypto.news/jupiter-tokens-drop-january-2024-for-solana-defi-users/"> Jupiter tokens to drop in January 2024 for Solana defi users </a>

Solana flips Ripple’s XRP in market cap, SOL up 9%

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