Following what has been continued growth for the ecosystem, Solana (SOL) has flipped the Binance coin (BNB) to become the 4th largest cryptocurrency by market cap in the world. Indeed, the two assets have been swapping places, with BNB seeing its market cap fall more than 5% over the last 24 hours, according to CoinMarketCap.
The most recent milestone continues what has been an impressive few weeks for Solana. It recently reached a record DEX daily volume figure, outpacing Ethereum’s performance over the last 24 hours, according to DeFi Llama. Moreover, the network has seen a plethora of meme coins surge throughout March.
Also Read: Solana Daily DEX Volume Surpasses Record $3.5B
Solana Becomes 4th Largest Cryptocurrency in the World by Market Cap
Since the start of the year, the digital asset market has noted impressive performances. Bitcoin led the way, at one point reaching heights of $73,000. However, over the last several days, a host of tokens have faced corrections that have brought prices down across the board.
Yet one asset has been thriving despite the correction. Ultimately, it has catapulted it within the overall rankings, as Solana (SOL) has flipped BNB to become the 4th largest cryptocurrency in the world by market cap. The impressive performance of Solana has coincided with BNB’s 5% decline in market cap over the last 24 hours.
Also Read: Solana [SOL] Post Halving Price Prediction
For Solana, the token is down less than 1% over the last day, with its market cap also facing minimal declines. Moreover, SOL is currently trading at $190 and is inching closer to surpassing $200 for the first time since 2021. Although it is far from its all-time high of $260, its recent performance has provided optimism.
On the other hand, most assets have started the weekend dropping. Among them is BNB, whose value has fallen by more than 5% over the last day. Despite reaching an all-time high on March 14th, Bitcoin has dropped as low as $67,000 today. Only time will tell how far the price corrections will take the assets.