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Solana surpasses BNB and becomes the fourth largest cryptocurrency on the market
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Solana has just achieved an impressive feat in the cryptocurrency market, surpassing Binance Coin (BNB) in market capitalization and becoming the fourth largest crypto by market value.
According to data from CoinMarketCap, the digital asset SOL, native to the Solana network, registered significant growth of 15.41% in the last 24 hours, gaining a prominent position in the sector.
Solana’s market capitalization now stands at $86.7 million, while its trading volume over the last 24 hours reaches $6.5 million.
This advance puts Solana at an advantage over BNB, which previously occupied fourth position. BNB, the cryptocurrency that powers the Binance ecosystem, showed growth of just 3.38% in the same period and fell 4.45% over the last seven days, positioning itself with a capitalization of US$82.9 million.
Solana
Solana’s recent performance is not only impressive due to its short-term appreciation, but also due to its on-chain activity indicators. Data from Blockworks Research shows that Solana’s Real Economic Value, which represents transaction fees and MEV tips, reached a record value of US$11.09 million on October 24.
Although these numbers have stabilized at an average of US$5 million in recent days, they remain high compared to what was recorded before mid-October.
Another factor that favors Solana is the increase in network fees, which at times even surpassed those generated by the Ethereum network. This increase in fees is due to the growth in activity on Raydium, Solana’s main decentralized exchange (DEX), which recorded more than US$3 million in fees in just 24 hours.
This scenario places Solana as a rapidly expanding platform with a significant volume of operations, signaling a competitive potential in the DeFi ecosystem.
The position achieved by Solana represents an important change in the market, as a few months ago the asset faced difficulties, such as a network outage in February. Even so, the network recovered and continues to record high adoption and transaction volume, increasingly consolidating itself as a platform of choice for developers and users looking for efficient and high-performance alternatives.
Solana surpasses BNB and becomes the fourth largest cryptocurrency on the market
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Solana surpasses BNB and becomes the fourth largest cryptocurrency on the market
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Solana surpasses BNB and becomes the fourth largest cryptocurrency on the market
