Hold onto your crypto hats, folks! Solana's been on a rocket ride, soaring to a jaw-dropping $87.3 billion valuation. It's now rubbing shoulders with the big players like Dogecoin, riding the wave of a market uptrend that's got everyone buzzing.
Solana (SOL) just leapfrogged Binance Coin (BNB) to claim the title of the fourth-largest cryptocurrency by market cap. This milestone comes during a market-wide rally that's seen altcoins popping off like fireworks. Even Bitcoin (BTC) hit a moonshot, breaking through to an all-time high of over $75,000!
In the last 24 hours alone, Solana's been on a tear, with a 15.4% surge pushing its price to $185.30 and market cap to a staggering $87.3 billion. It's been a stellar month for SOL, with a 24% price hike over 30 days, and it's been outpacing the global crypto market, which only rose by 1.2%. Solana's outperformance extends to other Layer-1 cryptocurrencies, which only managed a 1.4% gain during the same timeframe.
Meanwhile, Binance Coin (BNB) trailed behind with a modest 3.9% increase, its market cap lagging Solana by $2.5 billion at $84.8 billion. BNB struggled to keep up with the broader market, dipping by 3.6% over the past week. The last two weeks weren’t much better, with a slight 0.9% decline.
Solana's rise is part of a larger altcoin party, pushing the crypto market's total value to a whopping $2.6 trillion, with Bitcoin still holding the crown, making up nearly 60% of that. The king of crypto hit over $75,000, a new all-time high, boosting market morale across the board.
But Solana's not dancing alone. Dogecoin (DOGE) also made a splash, jumping 30% to $0.21 and momentarily overtaking XRP in the market cap rankings. Other altcoins like Uniswap (UNI), Bittensor (TAO), Lido DAO (LDO), Injective (INJ), Sui (SUI), and Near Protocol (NEAR) joined the party with their own double-digit gains.
This market madness is happening while the U.S. presidential race heats up, with crypto playing a starring role in the debate.
Not every coin is riding the wave, though. Tron (TRX) seems to be taking a breather, staying flat over the last 24 hours, despite celebrating its eighth consecutive month of transaction growth. Monero (XMR) took a slight dip, inching down by 0.8% to $159. But hey, in the wild world of crypto, anything can happen next!
