Solana Surpasses BNB, Becomes 4th-Largest Cryptocurrency by Market Value

Solana (SOL) has officially overtaken Binance Coin (BNB) to claim the title of the fourth-largest cryptocurrency based on market capitalization.

Significant Market Surge

This milestone comes amidst a broader market rally that has seen several major altcoins experience substantial gains. Bitcoin (BTC) has reached a new all-time high (ATH) of over $75,000, contributing to the overall positive sentiment in the cryptocurrency market.

Solana's Impressive Performance

In the last 24 hours, Solana's price surged by 15.4%, reaching $185.30 and boosting its market capitalization to approximately $87.3 billion. This recent price action adds to Solana's impressive performance over the past month, where it has recorded a 24% increase in value. Additionally, SOL has outperformed the global crypto market, which has risen by only 1.2% during the same period.

In contrast, Binance Coin saw a more modest increase of 3.9%, leaving its market cap at $84.8 billion—approximately $2.5 billion less than Solana.

Bitcoin's Role in the Altcoin Rally

The rise of Solana is part of a larger trend among altcoins, with the total cryptocurrency market value hitting $2.6 trillion. Bitcoin's dominance remains significant, accounting for nearly 60% of the total market cap. The bullish sentiment surrounding Bitcoin has positively influenced other cryptocurrencies, including SOL.

Other notable gainers in the past 24 hours include Dogecoin (DOGE), which surged by 30% to reach $0.21, and various altcoins such as Uniswap (UNI) and Lido DAO (LDO), which have also seen double-digit increases.

Market Outlook

While many cryptocurrencies are experiencing a surge, some have struggled to maintain momentum. Tron (TRX) has shown no significant movement in the last 24 hours, and Monero (XMR) has seen a slight decline of 0.8%. Overall, the market remains dynamic as investors keep a close watch on upcoming trends and developments.