Solana has recently overtaken Binance Coin (BNB) in market capitalization, securing the fourth spot.
According to CoinMarketCap, Solana (SOL) is priced at 186 USDT, reflecting a 3.79% increase in the past 24 hours.
🚨 BREAKING: Solana surpasses BNB in market capitalization, now ranking 4th! 📈 According to @CoinMarketCap, SOL’s price is at 186 USDT, with a 24-hour increase of 3.79%. 🚀 What are your thoughts on this rise? #Solana #BNB #Crypto #MarketCap #Blockchain #CryptoNews pic.twitter.com/AFygEjTroF
— Catch The Latest (@CatchTheLatest) July 27, 2024
This price surge resulted in over $4 million in liquidations of short positions as SOL reached $187. The largest single short liquidation was $560,000 at the $186 mark, highlighting the bullish momentum driving Solana’s recent performance.
🚨 LATEST: Over $4 million liquidated in SHORTS position as $SOL hits $187.
The single largest short Liquidation was $560K at $186 pic.twitter.com/8DaGNYIun5
— SolanaFloor (@SolanaFloor) July 27, 2024
Solana’s technical metrics are also noteworthy. The network’s true transactions per second (TPS) have exceeded 1100, demonstrating its scalability and efficiency.
🚨 JUST IN: @solana‘s True TPS surpasses 1100 tx/sec. pic.twitter.com/fTD3PiZTmC
— SolanaFloor (@SolanaFloor) July 27, 2024
Additionally, the total value locked (TVL) in Solana’s perpetual contracts has increased by 447% year-to-date, with platforms such as Jupiter Exchange and Drift Protocol leading this growth.
🚨News: Solana Perps TVL Up 447% YTD: @JupiterExchange, @DriftProtocol Leading the Charge https://t.co/xYuKgybAVk
— SolanaFloor (@SolanaFloor) July 26, 2024
Only Very Little 10% Of Crypto Investors Believe Solana Will Surpass $1000Â
Despite these impressive achievements, 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 by @coingecko reveals that ONLY 10.6% of #crypto investors think #Solana will exceed $1,000!
As a contrarian, I’m betting the house on $SOL reaching this milestone. pic.twitter.com/Dujq3fb1rg
— Ali (@ali_charts) July 26, 2024
Solana’s rapid ascent in market capitalization and robust technical performance underscore its growing influence in the cryptocurrency sector. As it continues to attract more users and developers, Solana is positioning itself as a formidable competitor to other major cryptocurrencies. The market will be closely monitoring Solana’s trajectory to see if it can sustain its growth and possibly achieve the ambitious price targets that some investors are skeptical about.
Overall, Solana’s recent market performance and technical advancements signal a promising future for the blockchain platform, making it a significant player to watch in the evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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