- • Solana (SOL) has officially flipped BNB to become the fourth-largest cryptocurrency by market capitalization.
- • Solana’s price has surged by 30% over the past month, solidifying its position among the top cryptocurrencies.
- • Analysts predict that Solana could potentially reach $1,000 soon, fueled by the anticipation of a potential Solana ETF approval.
Solana (SOL) has seen immense growth over the past month, with the asset increasing by over 30% and officially flipping Binance Coin (BNB) to become the fourth-largest cryptocurrency by market capitalization. This milestone cements Solana as a top player in the crypto space.
Recent SOL Price Action
The flipping occurred on Friday, with SOL surging by a remarkable 84% in just 24 hours according to CoinMarketCap. This caps off a strong 30-day run for the asset, which has gained over 30% during that period.
The price currently sits above $181, as bullish sentiment around the asset’s potential continues to build. There is much talk of Solana receiving an SEC-approved ETF in 2025, which is contributing to the positive market outlook.
SOL Becomes 4th Largest Crypto
Solana climbing to #4 means it has surpassed BNB’s market cap, now only trailing behind titans Bitcoin, Ethereum, and stablecoin Tether. This is a major achievement for the network, which launched in 2020.
Many analysts believe this latest push is just the beginning for SOL. Crypto analyst Ali Martinez recently predicted the token could reach $1,000 this year, drawing comparisons to Ethereum’s breakout 2021 rally.
While ambitious, a four-figure SOL price is plausible if bullish momentum continues. The approval of a Solana ETF could be a key catalyst, with major providers like VanEck and 21Shares having already filed applications with the SEC.
The Outlook for Solana
Solana has cemented itself as a blue-chip blockchain alongside Bitcoin and Ethereum. This latest market cap flippening is another validation of SOL’s role as a core building block of the crypto economy.
With technical innovations like industry-leading transaction speeds and developer traction through initiatives like web3 hackathons, Solana is poised to see further adoption. Its new status as the 4th largest cryptocurrency by market cap reflects its real-world utility and potential.
