Cryptocurrency

Solana

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<ul>
 <li>Solana (SOL) overtakes Binance Coin (BNB) in market cap, securing the fourth spot among cryptocurrencies.</li>
 <li>Solana’s price surge led to over $4 million in short position liquidations, reaching $193.</li>
 <li>&nbsp;Approval and launch of spot Ethereum ETFs has driven institutional interest in Solana, with inflows reaching $9.6 million.</li>
</ul>
<p>Solana (SOL) has recently surpassed Binance Coin (BNB) in market capitalization and has secured the fourth spot among cryptocurrencies. This milestone was achieved as SOL’s price crossed $190&nbsp; and achieved a market cap of over&nbsp; $90 billion compared to BNB’s $86 billion.&nbsp;</p>
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   <p lang="en" dir="ltr">LATEST: <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> overtakes <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BNB</a> to become the 4th largest crypto by market cap as it reclaims the $190 level.<br><br>How bullish are you on Solana? <a href="https://t.co/vwTtKoI9yb" rel="noopener noreferrer nofollow">pic.twitter.com/vwTtKoI9yb</a></p>— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1817786707749855383?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
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<p>The surge in Solana’s price has led to over $4 million in liquidations of short positions. Its true transactions per second (TPS) exceed 1100. This demonstrates the network’s scalability and efficiency. Additionally, total value locked (TVL) in Solana’s perpetual contracts has increased by 447% year-to-date with platforms such as Jupiter Exchange and Drift Protocol leading this growth.</p>
<p>One of key factors driving Solana’s recent success is approval and <a href="https://cryptonewsland.com/ethereum-etfs-surpass-1-billion-in-trading/" target="_blank" rel="noopener noreferrer nofollow">launch</a> of spot Ethereum ETFs. This development has shifted attention of both retail and institutional investors towards Solana. It positions Solana as a top contender for potential ETF. Consequently, Solana has noted the highest inflows of any altcoin after Ethereum with Inflows reaching $9.6 million.</p>
<p>Institutional interest in <a href="https://solana.com/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> has been growing. Many institutions consider SOL as their next investment target. Since the beginning of July Solana has seen a significant surge in daily active addresses reaching over 2 million.&nbsp;</p>
<p>Despite these impressive achievements, a recent <a href="https://x.com/ali_charts/status/1816863797274968104" target="_blank" rel="noopener noreferrer nofollow">survey</a> by CoinGecko reveals that only 10.6% of crypto investors believe Solana will surpass $1000. Analysts predict a long-term substantial rally for Solana&nbsp; and have set a <a href="https://cryptonewsland.com/analyst-predicts-solana-price-rally-breakout/" target="_blank" rel="noopener noreferrer nofollow">price target</a> as high as $1,000. Solana’s recent market performance and technical advancements signal a promising future for the blockchain platform.&nbsp;</p>
<p>Solana’s recent ascent to the fourth-largest cryptocurrency by market capitalization marks a significant achievement. The combination of strong technical metrics increased institutional interest and positive market sentiment suggests a bright future for Solana.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/when-will-bnb-surpass-the-2k-milestone/" rel="noopener noreferrer nofollow">When Will BNB Surpass the $2K Milestone?</a></li>
 <li><a href="https://cryptonewsland.com/sol-surpasses-bnb-becomes-4th-largest-crypto/" rel="noopener noreferrer nofollow">SOL Surpasses BNB, Becomes 4th Largest Crypto</a></li>
 <li><a href="https://cryptonewsland.com/market-analysis-can-bnb-reclaim-600-in-2023s-first-quarter/" rel="noopener noreferrer nofollow">Market Analysis: Can BNB Reclaim $600 in 2023’s First Quarter?</a></li>
 <li><a href="https://cryptonewsland.com/furrever-token-furr-presale-soars-2/" rel="noopener noreferrer nofollow">Crypto Market Spotlight: Binance Coin (BNB) and Solana (SOL) Dip, Furrever Token (FURR) Presale Soars</a></li>
 <li><a href="https://cryptonewsland.com/solana-rockets-to-4th-most-valuable-crypto-surpasses-bnb/" rel="noopener noreferrer nofollow">Solana Rockets to 4th Most Valuable Crypto, Surpasses BNB</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/solana-sol-surpasses-binance-coin-bnb/" rel="noopener noreferrer nofollow">Solana (SOL) Surpasses Binance Coin (BNB) to Secure Fourth Spot in Cryptocurrency Market</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Solana (SOL) Surpasses Binance Coin (BNB) to Secure Fourth Spot in Cryptocurrency Market

Crypto News Land

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