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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 15, 2023 11:27 UTC
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Solana Rallies 300%, Eyes XRP’s Spot in Market Cap Race: Who Will Win?
Solana (SOL) is making a comeback, positioning itself as a strong competitor to Ethereum's Layer-1.
XRP is also showing resilience, surpassing Binance Coin (BNB) in market capitalization.
Solana's mega rally continues, with a 300% gain in the past two months.
Who can really predict what will happen next in the crypto world? Solana (SOL) has made an impressive comeback, positioning itself as a strong competitor to Ethereum’s Layer-1. Currently valued at $78.74 with a market cap of $32.5 billion, SOL is in a close race with XRP, which sits at $34.20 billion.
Saga Sales Hit a High
A key factor in Solana’s recent success is the high demand for Solana Mobile’s Saga phones, which are now sold out in the United States.
While Americans await restocks, there’s good news for European customers as some units will be available. This achievement not only shows the popularity of Solana Mobile but also highlights the positive response from users.
BONK: From Meme to Mainstream
In a surprising twist, the meme coin BONK on the Solana blockchain has surpassed EOS in market capitalization, grabbing attention in the crypto community. BONK has also secured listings on Binance, a major crypto exchange, with a Seed Tag. This move boosts BONK’s visibility and marks a significant step in its acceptance in mainstream crypto circles.
BONK’s success reflects the dynamic nature of the crypto market and showcases the potential within the Solana ecosystem. As BONK gains momentum, it becomes a symbol of innovation and adaptability, challenging norms in the cryptocurrency space.
Also Read: BONK Emerges as Top Performer, Surpassing Legacy Meme Coins
XRP Stands Strong
Despite tough competition, XRP shows resilience, surpassing Binance Coin (BNB) in market capitalization, reaching around $36.09 billion. This brief success highlights XRP’s enduring presence, often overshadowed by bigger players like Bitcoin and Ethereum. XRP’s unique non-security status in the U.S. gives it a competitive edge, navigating regulatory challenges faced by other tokens.
Solana’s Mega Rally
Undeterred by competition, Solana (SOL) continues its mega rally, boasting a remarkable 300% gain in the past two months. Breaking the $75 resistance level, SOL aims for $78.75 as the next hurdle. If successful, this could lead to a significant upswing, potentially flipping XRP as the fifth-largest cryptocurrency by market capitalization at the $80 resistance mark.
This dynamic scenario adds excitement to the crypto landscape for both enthusiasts and investors.
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