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Solana (SOL) has officially surpassed Binance Coin (BNB) as the fourth-largest cryptocurrency by market cap, marking a pivotal shift in crypto rankings. With a 24% weekly rally and a 4% daily increase, SOL has surged past BNB’s market dominance, reflecting strong investor confidence in the Solana ecosystem and its growing role in DeFi, NFTs, and on-chain utility.
Over the past week, Solana has gained 24%, trading at $ 198.50, with intraday highs just under $204. Its daily gain of 5% pushed its market cap to near $107 billion, edging out BNB’s $105 billion.
DeFi growth is contributing to a surge in innovation and new financial products across blockchain networks. This rise also comes amid a sharp increase in daily trading volume, which has surged by more than 62%, with some sessions exceeding $33 billion - a clear indicator of rising demand and liquidity.
Solana's price action remains technically sound as on-chain momentum has bounced back from a recent low of $189.35. The asset is now testing key resistance near $204, and further upside could be triggered if SOL closes convincingly above that level.
The Crypto market cap has shown steady recovery, signaling renewed confidence in digital assets. However, analysts caution that the Relative Strength Index (RSI) has surged to around 80, indicating potential overbought conditions and a risk of short-term consolidation.
The recent surge in Solana's value can be attributed to several key catalysts. The Solana blockchain has experienced a renaissance of DeFi activity, accompanied by new protocol deposits, vibrant meme coin trading, and exceptional NFT transactions. The combination of low fees, greater transaction speed, and developer friendliness has made the Solana blockchain desirable to both retail and institutional participants.
Moreover, Solana has seen steady growth of its Total Value Locked (TVL), as it experiences increased capital influx and user engagement that surpasses BNB’s ecosystem. Loosely regulated crypto institutional players such as crypto funds and venture capital firms have dramatically embraced the Solana network, which adds credibility to the long-term viability of the Solana platform.
Meanwhile, Binance Coin has suffered as it has gone through another phase of regulatory scrutiny across several regions. Regulators are continuing to affect the perceptions of the associated exchange, and uncertainty over BNB’s utility, as well as surrounding compliance, has prompted some allocation of funds from BNB into a more neutral Layer-1 platform, such as Solana.
Solana’s rise symbolizes a growing trend in which utility-based blockchains with an active developer ecosystem are gaining traction. While Layer-1 chains are competing for status, there is potential for Solana’s breakthrough to spur renewed emphasis on performance, scalability, and the depth of the ecosystem.
The recent SOL price rally indicates growing investor trust and increasing demand for scalable blockchain platforms. If the bullish momentum continues and SOL can consolidate above $204, a move toward the $210-$220 range is likely to occur.
Regardless, Solana’s rise reflects a market increasingly driven by real-world use cases and network strength, key factors likely to shape the next phase of the crypto bull cycle
