- Solana price rose almost 50% last week, replacing BNB as the fourth largest asset by market capitalization.
- SOL surpassed BTC and ETH in trading volume on one of the largest crypto exchanges, Coinbase.
- SOL price crossed $100 on December 23 and reached the $109.28 level on Sunday.
Solana maintained its recent gains over the weekend, crossing the psychological barrier of $100. SOL surpassed the largest cryptocurrencies by market capitalization and ranked fourth, as seen in data from CoinGecko.
Also read: Optimism Price Could See Correction as On-Chain Metrics Turn Bearish
Solana ranks fourth in market capitalization
Solana, the Ethereum alternative and the fourth-largest asset by market capitalization, surpassed BNB and XRP, with its price rising. SOL price rose 50% last week and 100% last month, the market capitalization of the asset reached $47 billion.
SOL price reached a new local peak of $118 on December 24. Ethereum's killer asset now rivals or surpasses Ethereum in decentralized exchange volumes, NFT volumes, active addresses, transaction counts, and stablecoin transfers. However, Ethereum Supporters argue that Solana is not decentralized.
Ryan Watkins, co-founder of Syncracy Capital, maintains that Solana has almost 40% the number of nodes than Ethereum, and is only five times more expensive to run. Watkins believes the transaction cost and performance of Solana is probably worth it.
Watkins maintains that solarium It needs to continue decentralizing its developer ecosystem, while the asset develops other aspects of its chain.
The price of SOL is $110.24 at the time of writing on Binance.
