Markets
Solana overtakes BNB in market cap, now ranks 4th
Solana has recently exceeded Binance Coin (BNB) In terms of market capitalization, it ranks fourth.
According to CoinMarketCap, Solana (SOL) is trading at 186 USDT, reflecting a 3.79% increase in the last 24 hours.
🚨 BREAKING: Solana surpasses BNB in market cap and now ranks 4th! 📈 According to @CoinMarketCapThe SOL price is at 186 USDT, with a 3.79% increase over 24 hours. 🚀 What do you think about this increase? #Solana #BNB #Crypto #Market capitalization #Blockchain #CryptoNews pic.twitter.com/AFygEjTroF
— Catch the latest news (@CatchTheLatest) July 27, 2024
This price rally resulted in over $4 million in short liquidations, with SOL reaching $187. The largest short liquidation was $560,000 at $186, highlighting the bullish momentum driving Solana’s recent performance.
🚨 LATEST NEWS: Over $4 Million Liquidated in SHORTS Position $SOL reached $187.
The largest short liquidation was $560,000 at 186 pic.twitter.com/8DaGNYIun5
— SolanaFloor (@SolanaFloor) July 27, 2024
Solana’s technical indicators are also remarkable. The network’s actual transactions per second (TPS) has exceeded 1,100, demonstrating its scalability and efficiency.
🚨 BRAND NEW: @solanaTrue TPS exceeds 1100 tx/sec. pic.twitter.com/fTD3PiZTmC
— SolanaFloor (@SolanaFloor) July 27, 2024
Additionally, the total value locked (TVL) of Solana perpetual contracts has increased by 447% year-to-date, with platforms such as Jupiter Exchange and Drift Protocol leading the growth.
🚨News: Solana Perps TVL up 447% YTD: @JupiterExchange, @DriftProtocol Leading the charge https://t.co/xYuKgybAVk
— SolanaFloor (@SolanaFloor) July 26, 2024
Only 10% of Crypto Investors Think Solana Will Surpass $1,000
Despite these impressive results, a recent survey by CoinGecko reveals that only 10.6% of crypto investors believe Solana will surpass $1,000. This indicates a mix of optimism and caution among investors regarding Solana’s long-term price potential.
A recent survey conducted by @coingecko reveals that ONLY 10.6% of #crypto investors think #Solana will exceed $1,000!
As an opponent, I bet the house on $SOL reach this stage. pic.twitter.com/Dujq3fb1r
— Ali (@ali_charts) July 26, 2024
Solana’s rapid rise in market cap and strong technical performance underscore its growing influence in the cryptocurrency space. As it continues to attract more users and developers, Solana is positioning itself as a formidable competitor to other leading cryptocurrencies. The market will be closely watching Solana’s trajectory to see if it can maintain its growth and eventually achieve the ambitious price targets that have some investors skeptical.
Overall, Solana’s recent market performance and technical advancements signal a promising future for the blockchain platform, making it an important player to watch in the evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any project.
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