Solana (SOL) has seen a nice price increase over the past day, making history by entering the top four cryptocurrencies in the market. Solana’s market cap has narrowly surpassed that of BNB (BNB), reaching the remarkable milestone.
SOL writes history
Bitcoin (BTC) has continued its upward march since Thursday over the past day. While the bitcoin price has reached its key resistance of $68,000, many altcoins are benefiting from the rally. This includes Solana.
No coin in the top 20 can match Solana’s price increase over the past day. The popular altcoin is currently up almost 5% from 24 hours ago at a price of around $184.
Although the Solana price was already around this level at the beginning of the week, it has now made the coin the fourth largest coin in the crypto market in terms of market capitalization. BNB (BNB), which has occupied this spot for years, has only seen a narrow price increase of less than 1% in the past 24 hours.
Early yesterday evening, Solana overtook the cryptocurrency from Binance. As blockchain analytics platform Santiment reported on social media platform X, Solana has been catching up over the past two weeks. In this time frame, the Solana price has increased by as much as 35%, while BNB has not gone further than 10%.
900% increase coming for Solana?
With the strong price performance of the past few weeks, Solana has broken out of a so-called bullish pennant, as noted by leading crypto analyst Ali Martinez earlier this week. With this breakout, the price could potentially rise by an impressive 900% to $1,600 in the coming months,
It would bring the altcoin’s market cap to just over $720 billion. For comparison, ethereum (ETH) currently has a market cap of just under $400 million.
Although the chart suggests such a rise, it is far from a guarantee that it will play out this way. Technical patterns, such as a bullish pennant, can point to potential movements, but do not offer certainty.
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Source: https://newsbit.nl/solana-stormt-top-4-grootste-crypto-binnen-ten-koste-van-bnb/
