Solana (SOL) has achieved a major milestone by overtaking Binance Coin (BNB) to become the fourth-largest cryptocurrency by market capitalization.
SOL’s performance comes amid a broader market rally that has pushed the global crypto market cap to $2.46 trillion. This was a 7.3% increase across the cryptocurrency market at press time.
Solana Price Inches close to $190
Solana has demonstrated impressive momentum, with a 14.46% increase over the last 24 hours. SOL was trading at $187.3 at press time.
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Throughout the day, SOL was trading at a low of $163.47 and reached a high of $188.24. This surge has pushed Solana’s market capitalization to $88 billion, successfully overtaking BNB in the global rankings.
In contrast, Binance Coin has shown relatively modest performance. BNB showed a 3.8% increase in the last 24 hours.
BNB was trading at $582, maintaining a market capitalization of $83 billion. Solana’s surge has now placed BNB at fifth in the global cryptocurrency rankings.
Solana Memecoin Ecosystem Surges
The Solana ecosystem’s strength is particularly evident in its thriving meme coin sector. Several top Solana meme tokens posted double digit gains.
Dogwifhat (WIF) maintains its position as the leading Solana meme coin. The coin was commanding a market capitalization of $2.38 billion.
Trading at $2.38 per token, WIF has recorded a 14% increase in the past 24 hours. However, WIF was down by 6.4% over the weekly timeframe.
The token’s 24-hour trading volume remains robust at $1.39 billion.
POPCAT Dethrones BONK
A major shift has occurred in the meme coin rankings as POPCAT has successfully overtaken BONK for the second position.
POPCAT, trading at $1.58, has shown a 21.5% surge in the past 24 hours. This was despite a 6.5% weekly decline.
The token maintains a market capitalization of $1.55 billion, with 24-hour trading volume reaching $292.85 million.
BONK, now the third-largest Solana meme coin, trades at $0.00000226 and has shown resilient performance with a 16.5% daily increase.
The token’s market capitalization stands at $1.53 billion, with POPCAT and BONK going head on for the second position.
Cat in a Dogs World (MEW) has also contributed to the surge, trading at $0.009232 with a 10.6% daily increase.
The token maintains a market capitalization of $821 million and has generated $277.27 million in 24-hour trading volume.
The collective performance of these meme coins has played a crucial role in strengthening Solana’s ecosystem and supporting its ascent to the fourth position in global cryptocurrency rankings.
The broader market uplift of 7.3%, which has pushed the total crypto market capitalization to $2.46 trillion, provides a strong foundation for Solana’s achievement.
In the past, Solana has dethroned BNB multiple times. However, BNB has managed to surface back to its position.
