Solana has emerged as one of the standout performers in the cryptocurrency market, showcasing an impressive surge of over 14% in the last 24 hours.
Notably, Solana has achieved a new yearly high, reaching $86.54. What’s even more noteworthy is that Solana has successfully surpassed Ripple’s XRP token in market capitalization, reflecting a robust on-chain sentiment for the token.
According to Riyad Carey, a researcher at Kaiko, SOL’s trading volume on Upbit has outpaced ETH for 55 consecutive days, MEXC for 15 consecutive days, Kraken for 9 of the past 14 days, and Coinbase for 3 of the past 13 days. This sustained high trading volume signifies significant market interest and activity surrounding Solana.
Solana Maintains Upward Movement
Even in the face of substantial selling pressure from FTX, Solana has managed to exceed the $80 mark, pushing its total market value beyond $36 billion. This achievement highlights the resilience and growing popularity of Solana in the crypto space.
Solana’s token SOL rose 8.5% in the last 24 hours, exceeding $80, and its total market value exceeded $34.3 billion. Despite facing huge selling pressure from FTX, SOL has surpassed XRP to become the fifth-largest cryptocurrency by market capitalization. https://t.co/Vn4v9GF5DO
— Wu Blockchain (@WuBlockchain) December 20, 2023
The 24-hour trading volume has experienced a remarkable 120% increase, underlining the heightened trading activity and investor interest in Solana. Additionally, Solana’s Return on Investment (ROI) stands at an astonishing figure of 39114%, further attesting to its exceptional performance and value appreciation.
🚨 BREAKING: #Solana dethrones #XRP in market cap and now ranking 5th, currently at $34.4B, hitting $80 Price Level 🔥🚀 pic.twitter.com/nPp5Wy0e4u
— CoinEcho (@mycoinecho) December 20, 2023
As Solana continues its upward trajectory, these recent developments underscore its growing prominence in the crypto market, with its market cap surpassing that of XRP, and its impressive trading volume reinforcing its position as a major player in the blockchain space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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