Rally

Solana

Bonk

In the last 24 hours, a strong 18% increase in the price of Solana has elevated the cryptocurrency to the fourth position in market value for the first time in over two years. Following the recent surge, Solana’s market value rose to $41.9 billion, surpassing <a href="https://en.coin-turk.com/awesome-feature-from-binance-exchange-now-available/" data-wpel-link="internal">Binance</a> Chain’s $41.8 billion <a href="https://en.coin-turk.com/binances-bnb-chain-launches-opbnb-a-new-era-of-multichain-future/" data-wpel-link="internal">BNB</a> market value. At the time of writing, SOL is trading at $94.20. 
<h2 class="p1" style="text-align: justify" id="the-solana-rally-continues">The Solana Rally Continues</h2> 
Just one day before this development, on December 21, Solana managed to attract significant attention by surpassing XRP in market value. SOL’s price has gained over 30% in the past week, outperforming all other major cryptocurrency assets in the same time frame. Despite this development and the nickname “ETH killer,” Solana still has a long way to go to catch up with Ethereum’s market value of $269 billion. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-292610" src="https://coin-turk.com/wp-content/uploads/2023/12/borovik-tweet.png" alt="" width="550" height="603"> 
According to CoinMarketCap, Solana was last in the fourth position in terms of market value in November 2021. At that time, it was at the peak of the bull market cycle with a market value of $75 billion but still behind BNB’s market value of $108 billion. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-292609 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/market-degeri-liste.jpg" alt="" width="1281" height="820"> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-solana-front">What’s Happening on the Solana Front?</h2> 
However, Solana’s price closed the year 2022 just under $10 due to its association with the bankrupt FTX exchange and former crypto billionaire Sam Bankman-Fried in November 2022. A year later, SOL has risen to nearly $100, becoming one of the best-performing crypto assets of the year. 
Google Trends also shows a significant increase in searches for Solana, nearly catching up with searches for Ethereum in the US. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-292607 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/sol-ve-eth-arama-verileir.jpg" alt="" width="1122" height="395"> 
With these developments, technical analysts have not neglected to warn about a potential major crash before the end of the year. On December 21, the Solana team looked back at the year with an annual review of events including the Solana Solstice celebration, the Bonk (BONK) craze, the launch of the Saga mobile device, <a href="https://newslinker.co/category/ai/" data-wpel-link="exclude">artificial intelligence</a> integration, and corporate partnerships. Continue Reading: <a href="https://en.coin-turk.com/solanas-remarkable-surge-in-the-crypto-market/" data-wpel-link="internal">https://en.coin-turk.com/solanas-remarkable-surge-in-the-crypto-market/</a>

Solana’s Remarkable Surge in the Crypto Market

Table of Contents

COINTURK NEWS

Other articles published on Dec 22, 2023

Bears Freeze the Levels at $44,200: Will Bitcoin (BTC) Validate a Fresh Bearish Trend?

Bitcoin Champion Evolution: AI Trading bot

BlackRock to Appoint Third-Party to Buy BTC, Analysts Eye January 10 ETF Approvals

Crypto influencers and projects targeted in SIM-Swap attacks ahead of Christmas

Phantom Wallet Starts Supporting BRC20 and Connect to UniSat Inscribe and Marketplace

WuBlockchain Weekly: SOL Skyrockets and Surpassing BNB in Market Capitalization, ETF Approval Exp...

Join our free newsletter for daily crypto updates!