In the last 24 hours, Solana price jumped 18%, pushing the cryptocurrency to the twenty-four slot in market capitalization. This is a position it hasn’t held in over two years.
This recent jump shot Solana’s market cap up to $41.9 billion. It now surpasses Binance Chain’s BNB— its market cap is $41.8 billion. SOL sits at $98.40, an 18% increase for the day.
A day before, on Dec 21, Solana’s market cap passed XRP. This happened because SOL rose more than 30% in the past week. It did better than any other big cryptocurrency during that time.
But, even though many fans call Solana the “ETH killer,” it still has a lot to do with it. Ethereum’s market cap is still higher at $269 billion.
In Nov 2021, Solana ranked fourth, as per CoinMarketCap. At that point, during the bull market’s height, it held a $75 billion market cap, shadowed by BNB’s massive $108 billion.
Google Trends Signal Solana Rise: Ethereum Competitor On The Horizon
Interestingly, Solana closed 2022, priced under $10. It took a hit due to links with the now-collapsed FTX exchange and once crypto-billionaire Sam Bankman-Fried.
However, a surprise twist happened a year after, with SOL’s value skyrocketing near $100, marking it as one of the highest-yield crypto assets of the year.
Google Trends signal a significant surge in Solana searches, almost matching those of Ethereum in the United States.
Yet, caution comes from technical analysts foreseeing a major downturn before the year ends.
The Solana squad reflected on the year during its Dec 21 “Solana Solstice” festivity and yearly recap. Highlights include Bonk (BONK) excitement, the Saga mobile gadget launch, artificial intelligence meld, and institutional alliances.
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