Solana Overtakes Binance Coin (BNB) in Market Capitalization, Now Ranking 4th

According to CoinMarketCap, Solana (SOL) is priced at 186 USDT, reflecting a 3.79% increase in the past 24 hours.

Solana (SOL) recently achieved a significant milestone by overtaking Binance Coin (BNB) in market capitalization, securing the fourth spot in the cryptocurrency rankings. According to CoinMarketCap, SOL's price surged, reaching 186 USDT with a 3.79% increase in the past 24 hours.

This rapid market ascent led to over $4 million in liquidations of short positions as SOL hit $187. Notably, the single largest short liquidation was $560,000 at the $186 mark, highlighting the bullish market sentiment driving Solana's impressive performance.

Solana's technical metrics also showcased the network's performance, with true transactions per second (TPS) exceeding 1100, demonstrating Solana's scalability and efficiency.

Furthermore, the total value locked (TVL) in Solana's perpetual contracts witnessed a significant increase of 447% year-to-date, with platforms like Jupiter Exchange and Drift Protocol spearheading this growth.

Despite Solana's impressive achievements, a recent survey by CoinGecko revealed that only 10.6% of crypto investors believe Solana will surpass $1,000, indicating a mix of optimism and caution among investors regarding Solana's long-term price potential.

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