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 $86 billion.&nbsp;</p> 
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   <p lang="en" dir="ltr">LATEST: <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> overtakes <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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">pic.twitter.com/vwTtKoI9yb</a></p>— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1817786707749855383?ref_src=twsrc%5Etfw">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="noreferrer noopener">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="noreferrer noopener 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="noreferrer noopener 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 S... </p>
<p>The post <a href="https://cryptonewsland.com/solana-sol-surpasses-binance-coin-bnb/">Solana (SOL) Surpasses Binance Coin (BNB) to Secure Fourth Spot in Cryptocurrency Market</a> appeared first on <a href="https://cryptonewsland.com">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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