Ethereum

Solana

Bitcoin

Bonk

Coin

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p>Solana (SOL) has <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">surged</a> past Binance Coin (BNB) to claim the position of the fourth-largest coin by market capitalization.</p>
<p>As per the latest market data, Solana's market capitalization now stands at $48.79 billion, edging out BNB's $41.40 billion.</p>
<p>This milestone comes amid a broader rally in the digital asset sector, with Solana's price reaching $114.54, marking a staggering 58.4% increase over the past week.</p>
<h2 id="outperforming-bitcoin-and-ethereum">Outperforming Bitcoin and Ethereum</h2>
<p>In another significant development, Solana has been outperforming major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) in trading volumes on Coinbase.</p>
<p>Notably, it is the first time three coins have traded more than BTC in a 24-hour period on this platform.</p>
<p>Additionally, <a href="https://u.today/solana-sol-shows-2021s-performance-ready-for-100" rel="noopener noreferrer nofollow">Solana</a> has experienced a surge in decentralized exchange (DEX) volumes, surpassing all other chains with a 3,078% higher volume than Ethereum. This indicates growing investor confidence in Solana's ecosystem and its potential to sustain high transaction volumes, a key metric in the crypto world.</p>
<h2 id="sol-is-still-far-from-its-ath">SOL is still far from its ATH</h2>
<p>The recent surge was ignited by the dog-themed meme coin, <a href="https://u.today/meme-coin-bonk-jumps-17-as-it-seeks-revival-with-this-partnership-details" rel="noopener noreferrer nofollow">Bonk (BONK)</a>, which saw an astonishing jump in late November. This dramatic increase in value captured the attention of the crypto community and inspired the creation and trading of other similar meme coins.</p>
<p>It's not just about meme coins. Solana's total value locked is approaching $1.5 billion, which means that there is a healthy interest in the broader ecosystem.</p>
<p>Despite this surge, SOL remains 56.21% below its all-time high, illustrating the volatile nature of the crypto market.</p>

Solana (SOL) Flips BNB to Become Fourth Biggest Coin

Table of Contents

U_Today

Other articles published on Dec 24, 2023

Santiment Analysts Reported: “These Four Altcoins Have Excessive FUD Sentiment, A Counter Reactio...

Dogecoin: New addresses rise, but there’s a catch

Bitcoin Will Lose Importance with Spot ETFs, Second Foundation CIO Says

Coinbase responds to Senator Warren’s allegations regarding regulatory influence

Helium Price Prediction: Healthy Retracement Hints $HNT Rally to Chase $12.5

High-Profile Crypto Critic Alters Stance on Spot Bitcoin ETF

Join our free newsletter for daily crypto updates!