- Solana overtakes Binance Coin, reaching a $49.7 billion market cap, becoming the 4th largest crypto.
- Despite challenges like network outages and centralization concerns, Solana’s rise reflects growing investor confidence.
- BNB makes a comeback, reclaiming 4th position as its market cap and trading volume surge amid bullish market trends.
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. 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.
SOL vs. BNB 1-day price chart (Source: CoinMarketCap)
The cryptocurrency market as a whole showed positive movement and was accompanied by noteworthy achievements in all the major coins. However apparent, market optimism has been one of the factors that massively contributed to the market prosperity of Solana. SOL is trading at $113.66 with a…
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