Solana has been experiencing an impressive series of successful weeks, with its most recent achievement adding to that impressive run. As per data from DefiLlama, it has outperformed Ethereum in terms of daily performance, achieving an all-time high in daily volume on decentralized exchanges (DEX). Additionally, throughout March, the network has witnessed a significant surge in various meme coins.
As for today, the price of BNB is listed as $570.42, with a 1.56% decrease over the last 24 hours. The market capitalization is slightly down as well, with a 1.57% decrease, putting it at $85,299,420,601, and BNB is ranked 5th in market cap rank. The 24-hour trading volume has decreased by 1.73%, with a total volume of $3,659,432,184, making it 7th in terms of trading volume.
The volume to market cap ratio is 4.29%, and the circulating supply matches the total supply, which is 149,538,431 BNB. There is no max supply listed, indicating BNB has a fixed total supply.
Considering the slight downtrend in both price and trading volume. It also indicates that BNB is a high-market-cap cryptocurrency, reflecting a large user base and significant trading activity.
Solana Shines Amidst Market Turmoil
The digital asset market has experienced a notable rally since the start of the year, with Bitcoin once soaring to a high of $73,000, leading the pack. However, recent days have seen a number of tokens undergo price corrections, leading to an overall dip in market values.
Amidst this downturn, one particular asset has managed to shine. Solana (SOL) has seen such robust performance that it has now overtaken BNB in terms of market capitalization, ranking as the fourth largest cryptocurrency globally.
In terms of price movement and market value, Solana is currently in the green. It has seen its price increase by 8.41% and its market capitalization grow by 6.58% over the last day. Trading at around $195, SOL is approaching the $200 mark, a price point it has not reached since the previous year. These recent upticks have sparked optimism, although Solana still has some distance to cover to reclaim its peak of $260. In contrast, the bulk of digital assets are facing a downward trend as the weekend commences.
Solana Hits $200 Mark: What’s on the Horizon for SOL?
Solana is experiencing upward momentum beyond the $200 mark. The price of SOL continues to exhibit encouraging trends, potentially surpassing the $220 hurdle in the short term.
Bullish momentum propelled SOL’s price above the $200 resistance level against the US Dollar. Presently, it is trading above $200 and the 100 simple moving average (4 hours). On the 4-hour chart of the SOL/USD pair sourced from Kraken, a bullish trend line is forming, providing support around $195. Should the pair successfully breach the $205 and $212 resistance levels, the rally may persist.
Solana’s Google Trends Interest Peaks at Record High
As SOL’s price exceeded $200, PANews reports that the search volume for ‘Solana’ on Google Trends has surged to a record high of 100. This represents the highest level of search interest in Solana over the last five years, surpassing the previous peak of 84 recorded in early September 2021.
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