Solana’s SOL (SOL) token has flipped Binance’s BNB (BNB) token to develop into the fourth-largest cryptocurrency by market capitalization.
SOL rose 7.56% within the 24 hours main as much as 1:50 pm UTC to commerce at $112.52, overtaking BNB. SOL’s $49.36 billion market cap is 1.74% bigger than BNB’s $48.5 billion, primarily based on CoinMarketCap information.
SOL’s worth surge occurred the identical day the Crypto Fear and Greed Index hit its highest level since November 2021, when Bitcoin (BTC) reached $69,000. The index’s spike got here a day after Bitcoin surpassed $50,000 for the primary time since December 2021.
SOL managed to surpass BNB regardless of the Solana community suffering an outage on Feb. 6. The on-chain approval of the Pyth DAO Structure seemingly propelled the rally. This proposal aimed to ratify the Pyth DAO Structure because the decision-making framework for the Pyth DAO, the decentralized autonomous group governing the Pyth Community.
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Regardless of the current outage, SOL has gained 19.99% prior to now seven days and is at present 57% decrease than its all-time excessive of $260.06, recorded on Nov. 6, 2021.
Solana Cell’s Chapter 2 smartphone reached 100,000 preorders on Feb. 12 in lower than 30 days. As compared, it took Solana virtually a yr to promote 20,000 of its first Solana Saga smartphones.
Following the milestone, the preorder window for getting the brand new Solana telephone for $450 will shut on Feb. 14, Solana Cell announced on X. The smartphones will begin delivery in early 2025.
BNB has been struggling to achieve traction within the wake of Binance’s ongoing regulatory challenges. On Feb. 12, Binance founder Changpeng Zhao’s sentencing date was postponed from Feb. 23 to April 30. Zhao is at present out on a $175 million bond and is residing in the US.
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