Ethereum

Cryptocurrency

Solana

Bitcoin

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 <p class="paragraph">Solana (SOL) just reached a new milestone as the fourth most valuable <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency. This happens amid a fantastic year for what is now being again called the “Ethereum-killer.”</p>
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 <p class="paragraph">Notably, Solana surpassed BNB Chain (BNB) in market cap between December 22 and 23. According to <em>CoinMarketCap</em>, both now have $40.84 billion and $40.64 billion in capitalization, respectively.</p>
 <p class="paragraph">Currently, SOL registers a 24-hour volume of $3.15 billion against BNB’s $772.54 million. The former is up 28% weekly, responsible for conquering the fourth position of the leading <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> index.</p>
 <p class="paragraph">In the meantime, Tether (USDT) has a $50 billion higher market cap – of $91.25 billion – in the third position. Bitcoin (BTC) is still the dominating <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency with $853.79 billion capitalization, followed by Ethereum (ETH), which is valued at $274.90 billion.</p>
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   Top 5 cryptocurrencies by market capitalization. Source: <em>CoinMarketCap</em>
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 <h2 class="wp-block-heading" id="h-solana-s-growth-suggests-a-narrative-shift-for-defi-and-web3">Solana’s growth suggests a narrative shift for DeFi and Web3</h2>
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 <p class="paragraph">This surge in ranking should not be underestimated, directly resulting from a growing interest in Solana’s ecosystem.</p>
 <p class="paragraph">Essentially, Solana’s total value locked (TVL) has played a crucial role in DeFi’s growth in 2023. The decentralized finance ecosystem even surpassed countries’ economies (GDP) at $52 billion worth of cryptocurrencies invested in these protocols.</p>
 <p class="paragraph">Justin Bons, founder and CIO of Cyber Capital, Europe’s oldest cryptocurrency fund, believes in a narrative shift. According to a post from Bons on X (formerly Twitter), the market is turning its eyes to layer-1 scalability.</p>
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    <p lang="en" dir="ltr">What is happening in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency now is awesome<br><br>There has been a narrative shift away from ETH in favor of scalable L1s such as SOL, AVAX, NEAR &amp; EGLD<br><br>Validating the criticisms of ETH's "L2 scaling" roadmap<br><br>The future is so bright as the blockchain trilemma has been solved!</p>— Justin Bons (@Justin_Bons) December 22, 2023
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 <p class="paragraph">In particular, projects like SOL aim to offer a more efficient user experience in DeFi and Web3. They use technological innovations to increase each network’s capacity without relying mostly on second layers, such as Ethereum.</p>
 <p class="paragraph">Therefore, <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency investors must prepare to learn and adjust as the market evolves. Changes usually bring challenges but also drive improvement and opportunities, as expressed by Justin Bons: “What is happening in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency now is awesome.”</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-dethrones-bnb-to-rank-as-the-top-4th-cryptocurrency-globally-tbt74601.html">https://thebittimes.com/solana-dethrones-bnb-to-rank-as-the-top-4th-cryptocurrency-globally-tbt74601.html</a></p>

Solana dethrones BNB to rank as the top 4th cryptocurrency globally

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