bullish

Solana

Grow

Coin

<a href="https://cryptoticker.io/en/token/SOL">Solana price</a> has made headlines with <a href="https://cryptoticker.io/en/solana-price-prediction-will-solana-price-keep-the-bullish-momentum">its impressive surge</a>, surpassing <a href="https://cryptoticker.io/en/token/BNB">Binance Coin (BNB)</a> to become the fourth-largest cryptocurrency by market capitalization. How did <a href="https://cryptoticker.io/en/top-5-solana-airdrops-for-july-2024">Solana grow so fast</a> to be able to take over BNB, here are the details:
<h2 id="strong-how-did-solana-grow-so-fast-to-become-the-fourth-largest-crypto-strong">How Did Solana Grow So Fast To Become The Fourth Largest Crypto?</h2>
<h3 id="strong-1-solana-price-surge-fuels-market-cap-growth-strong">1- Solana Price Surge Fuels Market Cap Growth</h3>
<figure class="image">
 <img style="aspect-ratio:2174/1000;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_07_28_4480264057.png" alt="By TradingView - SOLUSD_2024-07-28" width="2174" height="1000">
 <figcaption>
 <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">By TradingView - SOLUSD_2024-07-28</a>
 </figcaption>
</figure>
<a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">Solana’s price</a> has experienced a significant rise, recently surpassing $185 and closing in on $190. This surge allowed SOL to surpass BNB, with Solana's market cap reaching $86.024 billion, edging out BNB's $84.623 billion. The catalyst behind this rise includes the approval and launch of spot Ethereum ETFs, which shifted investor focus to Solana as a potential ETF candidate.
<figure class="image">
 <img style="aspect-ratio:1798/820;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_SOL_vs_BNB_Overall_Performance_8c0370e8e9.png" alt="By TradingView - SOL vs BNB Overall Performance" width="1798" height="820">
 <figcaption>
 <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">By TradingView - SOL vs BNB Overall Performance</a>
 </figcaption>
</figure>
<h3 id="strong-2-solana-s-institutional-interest-strong">2- Solana's Institutional Interest</h3>
<a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">Solana</a> has seen a notable increase in institutional interest. for the week ending July 20, Solana had the highest inflows of any altcoin after Ethereum, with $9.6 million in inflows compared to Litecoin's $2.2 million. This significant interest from institutions suggests that Solana is becoming <a href="https://cryptoticker.io/en/top-3-altcoins-to-invest-in-july-2024">a preferred investment choice</a>, driving its price higher and increasing its potential for further gains.
<h3 id="strong-3-solana-s-increasing-user-activity-strong">3- Solana's Increasing User Activity</h3>
Since the beginning of July, Solana has seen a significant surge in daily active addresses, reaching over 2 million. This 38% increase from the 1.45 million addresses recorded on July 10 demonstrates <a href="https://cryptoticker.io/en/top-5-blockchains-july-2024">growing interest and confidence in Solana within the crypto community</a>, further supporting its bullish outlook.
<h2 id="strong-solana-price-prediction-based-on-technical-analysis-strong">Solana Price Prediction Based on Technical Analysis</h2>
<a href="https://www.bitget.com/spot/SOLUSDT?vipCode=94qs">Solana's current price</a> of $185 is forming a double bottom pattern, a bullish indicator often referred to as the "W" pattern. This pattern suggests a potential 31% rally, targeting $245 and bringing SOL closer to its all-time high of $260. However, a failed breakout could see Solana's price drop to $175, invalidating the bullish outlook.
Crypto analysts highlighted a bullish pennant formation for Solana on the weekly timeframe. This pattern, emerging after an uptrend, signals a continuation of the upward trend following a consolidation phase. Solana's price, which peaked above $200 in April before entering consolidation, has now broken out of this pennant, indicating renewed bullish momentum.
Solana is currently trading at $184, marking a 7% increase over the past week. <a href="https://cryptoticker.io/en/sol-price-prediction-aims-to-100-surge">Analysts predict a long-term substantial rally for Solana</a>, with a price target as high as $1,000. Achieving this ambitious target would require <a href="https://cryptoticker.io/en/solana-price-prediction-surpass-180-mark-next-200">SOL to break through various resistance levels</a> and reach new all-time highs.
<figure class="image">
 <img style="aspect-ratio:1780/817;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_SOL_vs_BNB_Price_Performance_f2c80f38e2.png" alt="By TradingView - SOL vs BNB Price Performance" width="1780" height="817">
 <figcaption>
 <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">By TradingView - SOL vs BNB Price Performance</a>
 </figcaption>
</figure>
<a href="https://cryptoticker.io/en/how-will-solana-technology-face-the-challenge-ahead">Solana's recent achievements</a>, including surpassing BNB and breaking out of bullish patterns, highlight its strong potential for future growth. With increasing institutional interest and rising user activity, <a href="https://www.bitget.com/spot/SOLUSD?vipCode=94qs">Solana</a> is well-positioned for <a href="https://cryptoticker.io/en/why-is-the-crypto-market-up-today-btc-conference">continued success in the cryptocurrency market</a>.

Solana Crypto Surge: How Did Solana Take Over BNB?

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