Since Monday, Solana (SOL) has rallied by over 45%, approaching the much-awaited $100 mark. It has flipped Binance’s BNB to grow to be the cryptocurrency with 4th largest market capitalization.
The collapse of FTX adversely impacted the Solana ecosystem’s worth and complete worth locked (TVL). In December final 12 months, it hit a long-term low of $8. Nonetheless, in 2023, Solana made a strong restoration, virtually reclaiming the $100 milestone.
Solana Flips BNB because it Approaches $100
Solana and Binance’s BNB are engaged in a detailed contest for the 4th spot amongst cryptocurrencies with the very best market capitalization. Earlier right this moment, Solana briefly surpassed BNB however couldn’t keep the place.
Additionally, the worth of Solana reached $99.50 on Binance, falling simply $0.5 in need of the $100 milestone. It’s extremely probably that if the worth of Solana stays above $100, it may well firmly safe its 4th place.
As of writing, the screenshot beneath exhibits that BNB’s market capitalization is $41.75 billion, whereas Solana’s market capitalization is $41.44 billion.
Learn extra: Methods to Purchase Solana (SOL) and Every part You Want To Know
The Huge BNB Flip
Solana has by no means managed to flip the market capitalization of Binance’s BNB. The historic snapshot from CoinMarketCap exhibits that when Solana was round its all-time excessive in November 2021, it had the fourth spot primarily based on market capitalization. But, BNB’s market capitalization remained increased in comparison with Solana.
On November 6, 2021, SOL’s market capitalization was virtually $78 billion. In the meantime, BNB’s market capitalization was at $106 billion, greater than 25% increased than SOL.
![Market Capitalization of Top 5 Crypto on November 6, 2021. Source: CoinMarketCap](https://beincrypto.com/wp-content/uploads/2023/12/Screenshot-2023-12-22-at-12.20.23-PM-850x302.png.webp)
Learn extra: What Is Market Capitalization? Why Is It Necessary in Crypto?
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