Solana (SOL) has reached a significant new milestone by overtaking Binance Coin (BNB) to become the fourth-largest cryptocurrency by market capitalization.
This achievement comes as the overall cryptocurrency market experiences a rally, pushing the global market cap to $2.46 trillion—a 7.3% increase at the time of reporting.
Solana has shown strong momentum and reached $191.79 in the last 24hrs, lifting its market cap to $88 billion and overtaking BNB in the global rankings.
In contrast, BNB’s growth has been more modest, with a 3.8% increase over the last day. Trading at $582, BNB holds a market cap of $83 billion, now placing it fifth among cryptocurrencies.
Meme Coins Drive Solana Ecosystem Growth
Solana’s ecosystem has been especially strong in the meme coin sector, with multiple Solana-based meme tokens showing double-digit gains.
The leading Solana meme coin, Dogwifhat (WIF), has a market cap of $2.38 billion and a price of $2.38 per token, gaining 14% in the past 24 hours, though it’s down 6.4% for the week. Its 24-hour trading volume stands at $1.39 billion.
POPCAT Takes Second Place from BONK
A shift in meme coin rankings has also occurred, with POPCAT overtaking BONK to secure the second spot. POPCAT, now priced at $1.58, surged by 21.5% in the last 24 hours despite a 6.5% weekly decline. It has a market cap of $1.55 billion and a 24-hour trading volume of $292.85 million.
BONK, now in third place, trades at $0.00000226 and showed a 16.5% daily increase, with a market cap of $1.53 billion. POPCAT and BONK remain close contenders for the second spot.
Another contributor, Cat in a Dogs World (MEW), trades at $0.009232 with a 10.6% daily gain, holding a market cap of $821 million and a 24-hour trading volume of $277.27 million.
These meme coins’ collective performance has bolstered Solana’s ecosystem, contributing to its rise to fourth place globally.
While the market’s 7.3% uplift supports Solana’s achievement, this isn’t the first time Solana has overtaken BNB, though BNB has previously reclaimed its position.
