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Solana

<a href="https://bitcoinworld.co.in/solana-beats-bnb-to-become-the-top-4th-cryptocurrency-globally/" title="Solana Beats BNB To Become The Top 4th Cryptocurrency Globally" rel="nofollow"></a>
Solana (SOL) just reached a new milestone as the fourth most valuable cryptocurrency, beating BNB to the fifth position. This happens amid a fantastic year for what is now being again called the “Ethereum-killer.” 
Notably, Solana surpassed BNB Chain (BNB) in market cap between December 22 and 23. According to <a href="https://coinstats.app/coins/">Coinstats</a>, Solana now has $46 billion and BNB has $42 billion in capitalization. 
<figure id="attachment_58785" aria-describedby="caption-attachment-58785" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-medium wp-image-58785" src="https://bitcoinworld.co.in/wp-content/uploads/Solana-Beats-BNB-As-Fourth-Top-Cryptocurrency-720x294.png" alt="" width="720" height="294" srcset="https://bitcoinworld.co.in/wp-content/uploads/Solana-Beats-BNB-As-Fourth-Top-Cryptocurrency-720x294.png 720w, https://bitcoinworld.co.in/wp-content/uploads/Solana-Beats-BNB-As-Fourth-Top-Cryptocurrency-1080x441.png 1080w, https://bitcoinworld.co.in/wp-content/uploads/Solana-Beats-BNB-As-Fourth-Top-Cryptocurrency-768x314.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Solana-Beats-BNB-As-Fourth-Top-Cryptocurrency.png 1278w" sizes="(max-width: 720px) 100vw, 720px">
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 Solana Beats BNB As Fourth Top Cryptocurrency | Source: Coinstats
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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 crypto index. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/paxos-to-launch-new-stablecoin-usdp-on-solana-after-shutting-down-busd/" aria-label="“Paxos To Launch New Stablecoin, USDP, On Solana After Shutting Down BUSD” (Edit)">Paxos To Launch New Stablecoin, USDP, On Solana After Shutting Down BUSD</a> 
In the meantime, Tether (USDT) has a $50 billion higher market cap – of $91.25 billion – in the third position.&nbsp; 
Bitcoin (BTC) is still the dominating cryptocurrency with $853.79 billion capitalization, followed by Ethereum (ETH), which is valued at $274.90 billion. 
<h3 id="span-style-font-weight-400-solana-s-growth-suggests-a-narrative-shift-for-defi-and-web3-span">Solana’s Growth Suggests A Narrative Shift For DeFi And Web3</h3> 
This surge in ranking should not be underestimated, directly resulting from a growing interest in Solana’s ecosystem. 
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. 
Justin Bons, founder and CIO of Cyber Capital, Europe’s oldest cryptocurrency fund, believes in a narrative shift.&nbsp; 
According to a <a href="https://twitter.com/Justin_Bons/status/1738232312012079361?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1738232312012079361%7Ctwgr%5E478c8fefa791a7b001bd0e6504f813f976dc5fdd%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Ffinbold.com%2Fsolana-dethrones-bnb-to-rank-as-the-top-4th-cryptocurrency-globally%2F">post</a> from Bons on X (formerly Twitter), the market is turning its eyes to layer-1 scalability. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 What is happening in cryptocurrency now is awesome 
 There has been a narrative shift away from ETH in favor of scalable L1s such as SOL, AVAX, NEAR &amp; EGLD 
 Validating the criticisms of ETH's "L2 scaling" roadmap 
 The future is so bright as the blockchain trilemma has been solved! 
 — Justin Bons (@Justin_Bons) <a href="https://twitter.com/Justin_Bons/status/1738232312012079361?ref_src=twsrc%5Etfw">December 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/solana-witnessed-increased-activity-on-solana-based-dexs/" aria-label="“Solana Witnessed Increased Activity On Solana-based DEXs” (Edit)">Solana Witnessed Increased Activity On Solana-based DEXs</a> 
Therefore, cryptocurrency 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 cryptocurrency now is awesome.” 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
The post <a href="https://bitcoinworld.co.in/solana-beats-bnb-to-become-the-top-4th-cryptocurrency-globally/">Solana Beats BNB To Become The Top 4th Cryptocurrency Globally</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Solana Beats BNB To Become The Top 4th Cryptocurrency Globally

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