Solana Overtakes BNB to No. 4 with $88.5 Billion Market Cap
Date: 2024-11-07 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
According to CoinGecko, Solana's (SOL) market cap has increased to $88.5 billion, moving it up to fourth place, leaving behind the Binance exchange token. Over the past 24 hours, November 6, the price of SOL has jumped by 12.58%, and over the past week, it has grown by about 7%. Solana is currently trading at $187, with a trading volume of $6.5 million over the past 24 hours.
Solana's rapid growth is creating serious competition for Binance Coin (BNB), which remains the main token of the largest cryptocurrency exchange Binance. Although BNB has also shown a 3.7% gain over the past 24 hours, the cryptocurrency's weekly performance has decreased by 1.8%, which has reduced its value to $583.26 and its market cap to $85.8 billion. BNB's daily trading volume has exceeded $1.87 million.
This year has been a successful one for Solana, as it has managed to outperform BNB more than once. In February 2024, SOL also occupied the fourth position, but soon fell back to fifth place.
