Solana, the blockchain, celebrated its 4th birthday on March 4. And as a birthday present, it took 4th place among the highest-rated cryptos in the world. Simple coincidence or the result of hard work? That’s the big question.
Solana overtakes Binance Coin (BNB): A meteoric crypto rise
The dazzling success of Solana and its SOL token is not the result of chance. The team behind this blockchain is determined to reach new heights, including positioning itself as an “Ethereum killer”. Its rise is the result of hard work, with notable advances in the competition with Ethereum, whether in the field of decentralized exchanges (DEX) or the development of memecoins.
However, the recent revision of the ranking of cryptocurrencies by market capitalization has attracted attention, and CryptoPolitan seems to have detailed explanations on this.
In the game of musical chairs of cryptocurrencies, Solana (SOL) has succeeded a masterstroke by dethroning Binance Coin (BNB) from its coveted place, settling comfortably at the fourth position in the world in terms of market capitalization. This recent victory is not just a change in numbers, but it demonstrates the irreversible rise of the Solana ecosystem. While BNB market capitalization fell by more than 5% In 24 hours, Solana continued its momentum, setting new records and capturing the attention of the crypto universe.
In just one week, the price of Solana skyrocketed 40%crossing for the first time since November 2021 the 200 dollar mark. This dizzying surge has not only consolidated its place among the leaders of the cryptocurrency market, but also propelled SOL among the top 200 global companies in terms of capitalization. This remarkable success is not limited to the altcoin itself, but also reflects the growing recognition of cryptocurrencies as key players in the global financial landscape.
Solana: A saga of innovation and success
Solana is not just another crypto; it embodies a saga of innovation – don’t forget that it is preparing to release the second version of its Web3 Solana Saga smartphone, and success in the cryptographic universe. Since his low at 8 dollars in December 2022, SOL soared dramatically, recording a growth of 2,468%. Despite a modest start to the year, its trajectory took off in March, reaching new heights.
Beyond its price, Solana’s ecosystem is constantly evolving, broadening its appeal with diversified DeFi offering and thewelcome new memecoins. Sam Bankman-Fried’s (SBF) shadow split marked a turning point in Solana’s story, freeing her from past controversies.
This meteoric rise is not a stroke of luck, but the result of sustained growth, technological advancements and a dynamic community. Solana has successfully turned challenges into opportunities, establishing its place among the leaders in the cryptocurrency market.
Solana vs Ethereum: A major challenge
After dethroning Binance Coin, the next step for SOL is to surpass Ethereum (ETH). With a capitalization of 90 billion dollars against 435 billion for ETHSOL needs to rise 483% to take the lead.
Currently, to surpass ETH, the price of SOL would need to reach $982 with its current supply of 443 million tokens. However, the supply of SOL is gradually increasing, unlike that of ETH which is decreasing slightly.
If the trend continues, with an estimated supply of 506 million tokens in 2025, SOL would need to reach $860 to surpass ETH, a task that will require an increase of over 300%. The competition is on.
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