The Market Cap Flip: Solana vs Binance Coin
The recent uptrend in Solana’s price has finally manifested in its market cap, surpassing Binance Coin (BNB). Both SOL and BNB experienced an increase in value, marking a significant shift in their rankings.
SOL Overtakes BNB in Market Capitalization
Recent data from CoinMarketCap reveals that Solana’s market capitalization has exceeded Binance Coin’s. An analysis by AMBCrypto indicates SOL’s market cap at over $49 billion, while BNB’s stands at over $48 billion.
- Solana’s 7-day growth: 17%
- BNB’s 7-day growth: 8%
Despite both assets experiencing a slight decline in their 24-hour trends, the decrease is less than 1%, indicating a stable market.
Solana’s Dominance in Trading Volume
Recent data from CoinMarketCap also highlights Solana surpassing Binance Coin in trading volume. As of now, SOL’s trading volume exceeds $2.3 billion, while BNB’s volume is approximately $847 million.
Examining the three-day trend for SOL, it consistently recorded volumes of over $1 billion, reaching over $3 billion by the end of 13th February. In contrast, BNB’s volume remained around $1 billion, contributing to the market cap shift.
Comparing SOL and BNB Price Trends
The surge in Solana’s market cap is closely tied to its recent price performance. A daily price trend analysis indicates consistent upward movement, with only a 1.45% dip on 11th February. At the time of writing, SOL is trading at around $112.6, maintaining a bullish trend.
Similarly, Binance Coin has seen positive price movements, trading at around $328 with an almost 1% increase. Both assets exhibit strong bullish trends, with RSI approaching the 70 mark.
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