Crypto: SOL Surpasses XRP and Targets $100

Solana (SOL) emerges as a major phenomenon in the crypto universe. It surpasses XRP and climbs to the 5th place globally. With a market capitalization of $34.4 billion, SOL defies all expectations, suggesting a climb towards $100 in a bustling crypto market.

Solana's market cap flipped XRP to become the fourth largest crypto. @noshitcoins explores what's behind the recent rally and analyzes if $100 is within reach for SOL.

(Via @CointelegraphMT) https://t.co/iVnZeDmf3U

— Cointelegraph (@Cointelegraph) December 21, 2023

Crypto SOL: The Race to the Top

Solana (SOL) triumphantly emerges, outclassing XRP. It rises to the 5th rank of global cryptocurrencies with a market capitalization of $34.4 billion. This spectacular ascent, marked by an 8% increase in a single day, comes despite the selling pressures linked to the FTX bankruptcy.

Currently, the crypto SOL is trading above $80. It’s logging impressive growth:

• of 18.18% over the week;
• of 34.16% on a weekly basis.

Exponential Growth of Crypto SOL: The Memecoin Craze Plays a Part

The rise of Solana crypto is inseparable from the memecoin fever that swept the cryptocurrency market. The Bonk token, capitalized at over $1.2 billion, particularly caught the attention of crypto traders. They bought SOL as an underlying asset. Each exchange of memecoin against SOL created a significant buying pressure on the crypto, further fueling its growth.

The success of the Solana network in this memecoin craze is also reflected in the increased volume of transactions on decentralized exchanges. Speculation around the next profitable meme continues to drive activity, creating a positive cycle for SOL crypto.

SOL Growth Extends to DApps

The total value locked (TVL) in Solana has increased by 96% in just three weeks, reaching $1.28 billion. This figure now surpasses 1.4% of the market share, testifying to the growing robustness of the Solana crypto ecosystem.

The stability of the Solana network has been crucial to this expansion, even outperforming its competitors in terms of volume gains. Solana’s DApps have attracted 875,250 unique active addresses during the week, an impressive performance compared to the declines observed on other blockchains.

Only 13 months ago, the idea of a recovery for crypto Solana (SOL) seemed improbable. But the token has not only recovered, but has also surpassed all expectations. Case to follow…