Solana

Step Finance

Coin

<a href="https://bitcoinworld.co.in/solana-sol-has-overtaken-binance-coin-bnb-by-market-cap/" title="Solana (SOL) Has Overtaken Binance Coin (BNB) By Market Cap" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Solana (SOL) has overtaken Binance Coin (BNB) by market cap, reaching a $49.7 billion market cap and becoming the 4th largest crypto.</li> 
 <li style="font-weight: 400">Despite challenges like network outages and centralization concerns, Solana’s rise reflects growing investor confidence.</li> 
 <li style="font-weight: 400">BNB makes a comeback, reclaiming 4th position as its market cap and trading volume surge amid bullish market trends.</li> 
</ul> 
The market capitalization of Solana (SOL) emerged above that of Binance Coin (BNB), reaching $49.7 billion to substitute the latter to become the third largest cryptocurrency on Feb 13.&nbsp; 
<figure id="attachment_65895" aria-describedby="caption-attachment-65895" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-65895" src="https://bitcoinworld.co.in/wp-content/uploads/SOL-vs-BNB-457x300.png" alt="" width="618" height="406" srcset="https://bitcoinworld.co.in/wp-content/uploads/SOL-vs-BNB-457x300.png 457w, https://bitcoinworld.co.in/wp-content/uploads/SOL-vs-BNB.png 682w" sizes="(max-width: 618px) 100vw, 618px">
 <figcaption id="caption-attachment-65895" class="wp-caption-text">
 SOL vs BNB
 </figcaption>
</figure> 
&nbsp; 
This achievement, however, has not only led to the Solana which currently ranks fourth in this sphere directly behind Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) but also generated debates on the causes of such a rapid price spike and the consequences for the entire digital assets market as a whole. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-btc-fell-back-below-50k-after-inflation-data-spooks-investors/" aria-label="“Bitcoin (BTC) Fell Back Below $50K After Inflation Data Spooks Investors” (Edit)">Bitcoin (BTC) Fell Back Below $50K After Inflation Data Spooks Investors</a> 
The cryptocurrency market as a whole showed positive movement and was accompanied by noteworthy achievements in all the major coins.&nbsp; 
However, market optimism has been one of the factors that massively contributed to the market prosperity of Solana.&nbsp; 
SOL is trading at $113.66 with an 8.1% increase, while BNB is currently worth $326.01.&nbsp; 
Solana has shown 54% growth in the last 24 hours, as its 24-hour trading volume on DEXs has <a href="https://twitter.com/SolanaFloor/status/1757404574384628060">reached</a> $795 million. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> JUST IN: Solana did $795 million in 24-hour DEXs trading volume. 
 Growth since yesterday: 54% <a href="https://t.co/bZspWXS3SO">pic.twitter.com/bZspWXS3SO</a> 
 — SolanaFloor | Powered by Step Finance (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1757404574384628060?ref_src=twsrc%5Etfw">February 13, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
However, Solana’s <a href="https://twitter.com/SolanaStatus/status/1754813351945789491">journey</a> has encountered hurdles. The network has faced criticism over occasional outages and concerns regarding centralization due to its delegated Proof-of-Stake (dPoS) consensus mechanism.&nbsp; 
These issues raise questions about its long-term stability and decentralization, critical factors for maintaining investor trust and ensuring sustainable growth. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Engineers from across the ecosystem are investigating an outage on mainnet-beta. This thread will be updated as more information becomes available <a href="https://t.co/rfeioQ6BG9">https://t.co/rfeioQ6BG9</a> 
 — Solana Status (@SolanaStatus) <a href="https://twitter.com/SolanaStatus/status/1754813351945789491?ref_src=twsrc%5Etfw">February 6, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Despite these challenges, Solana’s recent surge underscores its growing influence and potential within the crypto ecosystem.&nbsp; 
Its ability to address these concerns and continue innovating will be pivotal in positioning itself as a leading blockchain platform. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/earn-crypto-by-playing-solana-game-aurory-on-epic-games-store/" aria-label="“Earn Crypto By Playing Solana Game ‘Aurory’ On Epic Games Store” (Edit)">Earn Crypto By Playing Solana Game ‘Aurory’ On Epic Games Store</a> 
Although BNB was a bit downcast, it has recovered and is holding the fourth position.&nbsp; 
The BNB price, also thanks to the bullish grip, rose by 0.79%, and the market capitalization reached $48,267,558,480.&nbsp; 
Notably, the 24-hour trading volume also jumped by 45% to $1,077,791,340, which, in turn, indicates an increased confidence level in the investors. 
<blockquote>
 Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or 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 trading or investment decisions.
</blockquote> 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/solana-sol-has-overtaken-binance-coin-bnb-by-market-cap/">Solana (SOL) Has Overtaken Binance Coin (BNB) By Market Cap</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Solana (SOL) Has Overtaken Binance Coin (BNB) By Market Cap

ItsBitcoinWorld

Other articles published on Feb 14, 2024

BITmarkets Breaks Rivals by Announcing 0% Fees for All Crypto Spot Trading

Solana flips BNB again – Can SOL cement its position this time?

Stacks (STX) Skyrockets Over 43% And Smashes $2 Threshold, Setting Sights On New All-Time Highs

Bitcoin Soars to New Heights with Intense ETF Market Participation

Sushi to Launch Decentralized Derivatives Exchange on Layer N

Ripple Acquires Standard Custody & Trust To Expand U.S. Financial Product Offerings Despite Ongoi...

Join our free newsletter for daily crypto updates!