Solana Surpasses BNB in Market Cap, Now 4th Position
1 min read
Solana Surpasses BNB in Market Cap, Now 4th Position
Solana’s SOL token has surpassed Binance’s BNB token to become the fourth-largest cryptocurrency in terms of market capitalization. Within a 24-hour period, the SOL token saw a 7.56% increase in value, reaching a trading price of $112.52. This boost allowed Solana to surpass BNB, with a market cap of $49.36 billion, which is 1.74% larger than BNB’s $48.5 billion market cap.
The surge in Solana’s price coincided with the Crypto Fear and Greed Index reaching its all-time high in November 2021, when Bitcoin hit $69,000. This spike in the index followed Bitcoin’s first-time surpassing of $50,000 since December 2021. Interestingly, Solana managed to surpass BNB despite experiencing a network outage on February 6.
The rally of Solana’s SOL token can be partially attributed to the on-chain approval of the Pyth DAO Constitution. This proposal aimed to establish the Pyth DAO Constitution as the framework for decision-making within the Pyth DAO, which governs the Pyth Network. The approval of this constitution likely contributed to the token’s rise in value.
In other news, a Bitcoin analyst suggests that Bitcoin could reach a six-figure price in 2024. The analyst believes that $55,000 is now considered the “worst case” scenario for Bitcoin’s price. This optimism reflects the ongoing bullish sentiment surrounding the cryptocurrency market.
Solana’s SOL token’s rise in market capitalization highlights its growing popularity and potential within the cryptocurrency market. Bitcoin’s recent performance continues to fuel optimism among analysts, with predictions of a higher price in the years to come.
The surge in Solana’s price aligning with the Crypto Fear and Greed Index hitting its all-time high shows just how bullish the market is right now.
The market cap of Solana’s SOL token just keeps growing, and it’s well deserved! Celebrate this awesome achievement! 🎉💰
I’m loving the ongoing bullish sentiment surrounding the cryptocurrency market! Let’s keep the positive vibes flowing. 🚀🌈
The resilience shown by Solana is inspiring. It’s proof that setbacks can’t stop the token from achieving greatness. 💪🌟
The ongoing bullish sentiment is just fueling irrational exuberance in the market.
Solana’s SOL token is truly unstoppable. Despite challenges, it continues to rise. Kudos to Solana’s team! 💪🚀
The Pyth DAO Constitution’s approval is a significant milestone for Solana. It’s wonderful to see progress being made! 💼🎉
Solana’s SOL token’s success is another sign that the crypto market is full of potential. Exciting times ahead!
Seems like Solana’s rise is just based on hype and speculation. It’s not sustainable.
Bitcoin’s analyst predicting a higher price only adds to the optimism surrounding cryptocurrencies. Exciting times ahead!
The approval of the Pyth DAO Constitution is a major step forward for Solana’s governance. Great progress is being made!