Solana Tops BNB, Rises to Become 4th-Largest Crypto Asset By Market Value

Solana Surges Past Binance Coin to Rank as Fourth-Largest Cryptocurrency

Solana (SOL) has eclipsed Binance Coin (BNB) to become the fourth-largest cryptocurrency by market capitalization. This achievement follows a broader market surge that propelled several prominent altcoins upwards, including Bitcoin (BTC), which recently reached a new all-time high of over $75,000.

Solana's Weekly Performance Outperforms the Market

Solana's ascent was solidified by a 15.4% rally over the past 24 hours, driving the token's price to $185.30 and elevating its market cap to $87.3 billion. This momentum builds upon SOL's impressive monthly performance, having gained 24% over the past 30 days. It also outpaced the global crypto market's weekly growth of 1.2% and the 1.4% increase among Layer-1 cryptocurrencies.

BNB Lags Behind Solana

In contrast, BNB experienced a more modest 3.9% increase, with its market valuation trailing SOL's by approximately $2.5 billion at $84.8 billion. Unlike Solana, BNB fell short of the broader crypto market's performance, declining 3.6% over seven days. However, its losses were less pronounced over the past two weeks, hovering around 0.9% according to CoinGecko.

Bitcoin's Rise Enhances Altcoin Gains

Solana's rally aligns with a broader altcoin resurgence, contributing to the crypto market's total value surpassing $2.6 trillion. Bitcoin remains dominant, accounting for nearly 60% of this market share. Its surge to over $75,000 has bolstered market sentiment and buoyed other cryptocurrencies.

Other Notable Altcoin Performers

Alongside SOL, notable altcoin performers over the past 24 hours include Dogecoin (DOGE), which rose 30% to $0.21 and briefly overtook XRP for seventh place with a valuation of $30.79 billion. Other altcoins exhibiting significant gains include Uniswap (UNI), Bittensor (TAO), Lido DAO (LDO), Injective (INJ), Sui (SUI), and Near Protocol (NEAR).

Crypto Balances Crypto Amidst Political Turbulence

The crypto market's upturn occurs amidst the ongoing US presidential race, during which crypto has garnered political attention.

Lagging Altcoins

However, not all altcoins have benefited from the market surge. Tron (TRX) has remained relatively stagnant over the past 24 hours, although it has recently achieved eight consecutive months of transaction growth. Monero (XMR) is among the few cryptocurrencies with a negative performance, having declined slightly by 0.8% over the past day.