The unstoppable rally of Solana (SOL) persists, reaching one other 17% surge and edging nearer to the $100 mark. At the present second, SOL is buying and selling at $97.76, marking a 17.15% improve, with a market capitalization of $41.7 billion.
Solana Flips BNB Coin for Fourth Spot
In the most recent 24-hour interval, Solana (SOL) has skilled a notable surge of over 16%, reaching a market worth of US$41.8 billion. This surge propels SOL forward of Binance Coin (BNB), which stands at US$41.1 billion, securing SOL’s place because the fourth-largest cryptocurrency by market capitalization.
The strong efficiency is just not restricted to market capitalization alone; SOL’s contract buying and selling quantity throughout the community has witnessed a considerable 32% improve, exceeding 10 billion. Additionally, the open curiosity in SOL contracts has reached 1.34 billion throughout the identical timeframe, positioning Solana because the second-highest in open curiosity, trailing solely behind Bitcoin (BTC) and Ethereum (ETH).
This outstanding progress underscores Solana’s rising prominence within the cryptocurrency market, signaling heightened investor curiosity and exercise on the Solana blockchain. Also, as per the data from DeFi Llama, the overall worth locked on the Solana blockchain has additionally surged previous $1.3 billion. Just during the last two months, Solana has added greater than $1 billion in TVL as Defi exercise picks up.
Big Investors Selling SOL?
Solana has been on an unprecedented rally with its value up by 700% because the starting of the yr. Most of the positive aspects got here from mid-October because the Solana value jumped by 5 occasions during the last two months.
Amid this huge run-up in a really brief time, evidently large gamers have been liquidating their provides. Arthur Hayes, the co-founder of the crypto change BitMEX said that he has been promoting his SOL provide and buying Ethereum (ETH) as an alternative.
In a playful confession, Hayes mentioned that he acquired a divine message from God instructing him to dump SOL. Thus, he determined to half methods with $SOL and opted to purchase extra of the favored cryptocurrency, Ethereum ($ETH). The playful confession was accompanied by a be aware indicating that the investor now holds $ETH valued at $5,000. While this revelation is probably going tongue-in-cheek, it provides a whimsical contact to the ever-evolving narratives throughout the cryptocurrency group.
Fam … I’ve a confession to make.
I acquired a msg from the Lord whereas meditating. He mentioned dump that Sam coin POS, and profess your love for Archangel Vitalik.
So I dumped $SOL, and bot extra $ETH.$ETH = $5,000
— Arthur Hayes (@CryptoHayes) December 22, 2023
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